HomeMy WebLinkAboutRES 201212-QRESOLUTION NO. '� U 1 'a.l ;t - Q
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, AUTHORIZING A PARTICIPATION
AGREEMENT WITH "TEXASTERM ", A PUBLIC FUNDS INVESTMENT
POOL.
WHEREAS, the City of Georgetown ( "Participant ") is 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 TexasTERM ( "TexasTERM "), a public funds investment pool, was created
on behalf of entities 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 GEORGETOWN, TEXAS, THAT:
SECTION 1. That the City of Georgetown shall enter into a Participation Agreement to
establish an account in the name of the City of Georgetown, for the purpose of transmitting local
fiends for investment in TexasTERM"
SECTION 2. The facts and recitations contained in the preamble of this resolution are
hereby found and declared to be true and correct, and are incorporated by reference herein and
expressly made a part hereof, as if copied verbatim. The City Council hereby finds that this
ordinance implements the following policy of the Century Plan - Policy Plan Element:
1. Finance Policy End 14.0, which states: "All municipal operations are
conducted in an efficient business -like manner and sufficient financial resources for
both current and future needs are provided ",
and further finds that the adoption of this resolution is not inconsistent or in conflict with any other
Century Plan Policies, as required by Section 2.03 of the Administrative Chapter of the Policy Plan.
TexPool Amendment Resolution No.0
Page 1 of 3
SECTION 3. 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 TexasTERM and are each further authorized to withdraw funds, to issue letters of
instruction, and to take all other actions deemed necessary or appropriate for the investment of local
fields; and
SECTION 4. That an Authorized Representative of the Participant may be deleted by a
written instrument signed by all remaining Authorized Representatives provided that the deleted
Authorized Representative (1) is assigned job duties that no longer require access to the Participant's
TexasTERM account or (2) is no longer employed by the Participant; and
SECTION 5. 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, and are as follows:
1. Name Michelle A. Rundell
Signature
2. Name Laurie Brewer
Signature " . U L °
3. Name _ George Russell—
Signature/–,--' _
,'
4. Name Ten-v Jones _
Signature
Title Director of Finance and Administration
Direct Phone Number 512 -930 -3677
Title Controller
Direct Phone Number 512- 930 -3547
Title City Manager
Direct Phone Number 512- 930 -3723
Title Support Services Director
Direct Phone Number 512- 930 -3648
In addition and at the option of the Participant, one additional Authorized Representative is hereby
designated to perform only inquiry of selected information. This limited representative cannot make
deposits or withdrawals. The Inquiry Only representative is:
TexPool Amendment Resolution No. Ro J cD.1 a. - i
Page 2 of 3
Name Leticia Zavala Title Senior Accountant
SECTION 6. That this resolution and its authorization shall continue in full force and effect
until amended or revoked by the Participant, and until TexasTERM receives a copy of any such
amendment or revocation.
SECTION 7. This resolution shall be effective immediately upon adoption.
RESOLVED this 12th day of December, 2000.
ATTE - T:
Sandra D. Lee
City Secretary
APPROVED AS TO FORM:
f_w
Marianne Landers Banks
City Attorney
TexPool Amendment Resolution No.
Page 3 of 3
THE CITY OF GE07RGET WN:
by: MARYELLEN KERSCH
Mayor