HomeMy WebLinkAboutRes 2020-06 Amending Authorized Reps for TexPool InvestmentsCity of West University Place
Harris County, Texas
RESOLUTION NO. 2020-06
RESOLUTION OF THE CITY OF WEST UNIVERSITY PLACE, TEXAS,
AUTHORIZING A RESOLUTION AMENDING AUTHORIZED
REPRESENTATIVES TO THE TEXAS LOCAL GOVERNMENT
INVESTMENT POOL ("TEXPOOL 1 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 1 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 1 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 1 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 1 Texpool Prime Resolution Amending
Authorized Representative, to transmit funds for investment in the TexPool 1 Texpool
Prime Pool and to withdraw funds from the TexPool 1 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 1 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 1 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 1 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: Katherine DuBose
Title: Finance Director
Phone: 713-662-5816
2.
Name: Darla Steubing
Title: Fiscal Svcs Officer
Phone: 713-662-5819
3.
Name: Harrison Nicholson
Title: Treasurer
Phone: 713-662-5817
Section 7. That this Resolution shall take effect immediately upon its passage and
approval.
011
AND ADOPTED on thec4 dad
Signed
it ecretary (Seal)
r�xas
Recommen"6d:
Cit+lanager
Approved as to I I
City Attorney
1. Resolution (continued)
4.
Name
I
Title
Phone Fax Email
I
Signature
List the name of thr- Authorized Representative listed above that will have primary responsibility for performing transactions and receiving
confirmations and monthly statements under the Participation Agreement.
atherine DuBose
Name
In addition and at the option of the Participant, one additional Authorized Representative can be designated to perform o -ly inquiry of
selected information. This limited representative cannot perform transactions. If the Participant desires to designate a representative with
inquiry rights only, complete the following information.
Name
Title
I I I. I I ,.. I.._.I., I .J -Li I I -I -I I I I I I I TI I
Phone Fax Email
D- That this Resolution and its authorization shalF 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. This Resolution is hereby introduced and
adopted by the Participant at its regular/special meeting held on the 2 2 1 day of urge (, L 2 10 12 10
Note: Document is to be signed by your Board President, Mayor or County Judge andif ested by your Board Secretary, City
Secretary or County Clerk.
Name of I
SIGNED
Signature* J
ob Hi ley
Printed Name*
University Place
ATTES
I Z—�y�4d-
Signature*
Thelma A. Gilliam
Printed Name*
Mayor _-r Y J ;City
Secretary
Title* Title*
( Y�
2. Mailing Instructions
The completed Resolution Amending Authorized Represw tatives tan be faxed to TexPool Participant Services at 1-866-839-3291, and
mailed to:
TexPool Participant Services
1001 Texas Avenue, Suite 1150
Houston, TX 77002
ORIGINAL SIGNATURE AND DOCUMENT REQUIRED
1-866-TEXPOOL(839-7665) • TexPool.com
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