1992-052f City of Southlake, Texas
RESOLUTION NO. 92-52
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SOUTHLAKE, TEXAS, AUTHORIZING THE MAYOR TO
ENTER INTO A PARTICIPATION AGREEMENT WITH THE
TRUST COMPANY'S LOCAL GOVERNMENT INVESTMENT
POOL, "TEXPOOL"; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Southlake (the "Participant") is a
political subdivision of the State of Texas and is empowered to
delegate to a public funds investment pool the authority to invest
funds, to act as a custodian of investments purchased with local
investment funds; and
WHEREAS, it is in the best interest of the Participant and its
inhabitants to invest local funds in investments that yield the
highest possible rate of return, while providing necessary
safekeeping and protection of the principal; and
WHEREAS, the Treasurer of the State of Texas, acting by and
through the Texas Treasurer Safekeeping Trust Company (the "Trust
Company"), has created "TexPool," a public funds investment pool,
to effectuate the goals of providing investments at the highest
possible yield and maintaining complete safety of the funds of the
Participant,
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
A. That the City of Southlake shall enter into a
Participation Agreement to establish an account in its
name with the Trust Company's Local Government Investment
Pool, "TexPool," for the purpose of transmitting local
funds for investment by the Trust Company in TexPool.
B. That the following individuals, whose signatures appear
in this Resolution, are officers, employees, or
authorized representatives of the Participant and are
each hereby authorized to transmit funds to the Trust
Company for investment in TexPool and are each further
authorized to withdraw funds from time to time, to issue
letters of instruction, and to take all other actions
deemed necessary or appropriate for the investment of
local funds:
List the Officers, Employees, or Agents authorized to
transmit funds. These individuals will be issued P.I.N.
numbers. Your confirmations and monthly statements will
be mailed to the attention of the first person listed
No.1).
1. Name: LouAnn Heath
Title: -D nr of e
Signature
2. Name: Curtis E. Hawk
Title: City l sanager
Signature
3. Name: Sandra L. LeGrand
Title: C'tv Secretary
Signature
4. Name:
Title:
Signature
C. That this resolution and its authorization shall continue
in full force and effect until amended or revoked by the
Participant, and until the Trust Company receives a copy
of any such amendment or revocation. The Trust Company
is entitled to rely on this resolution until such time.
PASSED AND APPROVED this the I/;—day of l,Y) , 1992.
City Secretary
92-5I.RFS/RESft
CITY OF SOUTHLAKE, TEXAS
By: Zyor, cry i es-