HomeMy WebLinkAboutRes 2017-04 Amending authorized TexPool representativesCity of West University Place
Harris County, Texas
RESOLUTION NO. 2017 -04
RESOLUTION OF THE CITY OF WEST UNIVERSITY PLACE,
TEXAS, AUTHORIZING A RESOLUTION AMENDING AUTHORIZED
REPRESENTATIVES TO THE TEXAS LOCAL GOVERNMENT
INVESTMENT POOL ( "TEXPOOL / TEXPOOL PRIME ") TO CONDUCT
TRANSACTIONS FOR THE INVESTMENT OF CITY FUNDS.
WHEREAS, the City of West University Place, Texas ( "Participant ") entered into a
Participation Agreement ( "Agreement ") between the City and Texas Local Government
Investment Pool ( "TexPool / Texpool Prime ") on June 8, 1992 by Resolution Number 92 -08.
WHEREAS, the Agreement requires the Participant to follow certain operating
procedures with the respect to the establishment and maintenance of accounts; and
WHEREAS, the Agreement's operating procedures requires a resolution amending
Authorized Representatives that were approved by a Participant's governing body; and
WHEREAS, the TexPool / Texpool Prime Amending Resolution attached to by form
states that the Resolution Amending Authorized Representatives supersedes all prior
resolutions authorizing representatives; and
WHEREAS, the Participant 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
WHEREAS, the TexPool / Texpool Prime, a public funds investment pool, consisting
of separate pooled investment funds, was created pursuant to the provisions of Chapter
791, Texas Government Code, on behalf of entities to provide government functions and
services, specifically public funds investment, whose investment objective 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 BY THE CITY COUNCIL OF THE CITY OF WEST UNIVERSITY
PLACE, TEXAS:
Section 1. That the Finance Director shall designate one or more individuals to act
as Authorized Representatives of the City of West University Place, in the manner provided
in the form attached titled TexPool / Texpool Prime Resolution Amending Authorized
Representative, to transmit funds for investment in the TexPool / Texpool Prime Pool and to
withdraw funds from the TexPool / Texpool Prime Pool from time to time, to issue letters of
instruction, and take such other actions deemed necessary or appropriate for the
investment of local funds.
Section 2. That the individuals, whose signatures appear in the TexPool / Texpool
Prime Resolution Amending Authorized Representatives, attached to by form, are
Authorized Representatives of the Participant and are each hereby authorized to transmit
funds for investment in TexPool / Texpool Prime 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.
Section 3. That an Authorized Representative of the Participant may be deleted by a
written instrument signed by two remaining Authorized Representatives provided that the
deleted Authorized Representative (1) is assigned job duties that no longer require access
to the Participant's TexPool / Texpool Prime account or (2) is no longer employed by the
Participant; and
Section 4. That the Participant may by Amending Resolution signed by the
Participant add an Authorized Representative provided the additional Authorized
Representative is an officer, employee, or agent of the Participant.
Section 5. That this Resolution, and its authorization shall continue in full force and
effect until amended or revoked by the Participant, and until TexPool Participant Services
receives a copy of any such amendment or revocation.
Section 6. That the listed Authorized Representatives are approved by the City of
West University Place, Texas, to transmit funds for investments and to withdraw funds from
time to time, to issue letters of instruction, and take such other actions deemed necessary
or appropriate for the investment of local funds.
1. Name:
Marie Kalka
Title:
Finance Director
Phone:
713 - 662 -5816
2. Name:
Joethelia Mooney
Title:
Controller
Phone:
713 - 662 -5819
3. Name:
Wallace Waits
Title:
Treasurer
Phone:
713 - 662 -5817
Section 7. That this Resolution shall take effect immediately upon its passage and
approval.
uNI SED, APPROVED AND ADOPTED on the /�)' 'day of ;.4,A , 2017.
a
a � %
CA t s Signed:'
1% C 0 ity Secretary (Seal) Mayo
TEXAS /
Recommended:
Approved as to Legal Form:
i y anager City Attorney