HomeMy WebLinkAboutResolution No. 08-082
CITY OF THE COLONY, TEXAS
RESOLUTION NO. 08- ~ l,.
A RESOLUTION OF THE CITY OF THE COLONY, AUTHORIZING
EXECUTION OF A P ARTICIP A TION AGREEMENT FOR P ARTICIP A TION IN
TexasTERM/TexasDaily; AUTHORIZING THE MAYOR TO EXECUTE SUCH
AGREEMENT; APPOINTING AUTHORIZED REPRESENTATIVES AND
DESIGNATING INVESTMENT OFFICERS AND PROVIDING AN EFFECTIVE
DATE.
WHEREAS, City of The Colony is a local government of the State of Texas and
is empowered to delegate to a public funds investment Pool the authority to invest funds
and to act as custodian of investments purchased with local investment funds; and
WHEREAS, it is in the best interest of the Participant to invest local funds in
investments that provide for the preservation and safety of principal, liquidity, and yield
consistent with the Public Funds Investment Act and the city of The Colony's Investment
Policy which is attached hereto and incorporated herein as Exhibit A; and
WHEREAS, the TexasTERM/TexasDAIL Y Local Government Investment
Portfolio, a public funds investment pool (a "Pool") was created on behalf of entities
those investment objectives in order of priority are preservation and safety of principal,
liquidity, and yield consistent with the Public Funds Investment Act and the city of The
Colony's Investment Policy.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF THE COLONY, TEXAS:
A. That Participant shall enter into a Participation Agreement attached hereto as
Exhibit B to establish an account in its name in the Pool, for the purpose of transmitting
local funds for investment in the TexasTERM series or the TexasDAIL Y series within
the Pool; and, that the Mayor is authorized to execute such agreement for the purposes
recited therein.
B. That the individuals, whose signatures appear in this Resolution, are
Authorized Representatives of the Participant and are each hereby authorized to transmit
funds for investment in the Pool 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 of the Authorized Representatives of the Participant. These individuals may be
issued P.I.N. numbers.
1. Name: Rebecca Koo
Title: Finance Director
Signature:
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2. Name: Gwen Mansfield Title: Accounting Manager
Signature: Cbr LX' Jl '-('fl,Qi)S-c!iloU
C. That the person listed below is duly authorized to transmit funds and
otherwise deposit funds in TexasTERM/TexasDaily and is authorized to withdraw
funds from time to time for the transaction of local fund.
3. Name: Becky Betancourt
Title: Account Technician
Signature: ~ ~ Ucu.v~
List the name of the Authorized representative provided above that will have primary
responsibility for performing transactions and receiving confirmations and monthly
statements under the Participation Agreement.
Name: Gwen Mansfield
PASSED AND APPROVED by the City Council of the City of The Colony,
Texas this 15th day of September, 2008.
hn Dillard, Mayor
ity of The Colony, Texas
ATTEst:
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Christie Wilson, TRMC, City Secretary
Model Resolution or Ordinance:
Participation Agreement
*****
Authorizing Participation in TexasTERMffexasDAILY
And
Designating Authorized Representatives
WHEREAS, ("Participant")
is a local government of the St ofT s and is empowered to legate to a public funds investment Pool
the authority to invest funds and to act as custodian of investments purchased with local investment funds;
and
WHEREAS, it is in the best interest of the Participant to invest local funds in investments that
provide for the preservation and safety of principal, liquidity, and yield consistent with the Public Funds
Investment Act; and
WHEREAS, the TexasTERM Local Government Investment Portfolio, a public funds investment
pool (a "Pool"), was created on behalf of entities whose investment objectives in order of priority are
preservation and safety of principal, liquidity, and yield consistent with the Public Funds Investment Act.
NOW THEREFORE, be it resolved as follows:
A. That Participant shall enter into a Participation Agreement to establish an account in its name
in the Pool, for the purpose of transmitting local funds for investment in either the TexasTERM series or
the TexasDAIL Y series within the Pool.
B. That the individuals, whose signatures appear in this Resolution, are Authorized
Representatives of the Participant and are each hereby authorized to transmit funds for investment in the
Pool 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 of the Authorized Representatives of the Participant. These individuals may be issued P.I.N. numbers.
I. Namo t.E:B~O TitloEnllM (k :D I t<.E<-ToI?.
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2. Name: GC.L:>F-D f"\A".)SFIEL-bitle: \-i c.c.iG f'\\Q,R..
Signature: C1L.OeJ\ --r,,{~eld
3. Name: ~~ &1 u..nUi etA-'T Title: QCf Dl().,,\ +- 1 t' U)^ ~L~ a. n
Signature: '~U(,.L'J b.t* &JJ\~-
List the name ofthe Authorized Representative provided above that will have primary responsibility
for performing transactions and receiving confirmations and monthly statements under the
Participation Agreement.
Name: (, 0&J
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In addition and at the option of the Participant, one additional Authorized Representative can be
designated to perform only inquiry of selected information. This limited representative cannot,..make
deposits or withdrawals. If the Participaht desires to designate a representative with inquiry rights only,
complete the following information.
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 Pool receives a copy of any such amendment or revocation.
This Resolution is hereQY introduced and adopted by the Participant at its regular/special meeting held on
the I') day of ~L 200.tl
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NAME OF P ARTICIP ANT: V \ \t.
BY:
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