HomeMy WebLinkAboutRES 900307RESOLUTION NO, to K
A RESOLUTION AUTHORIZING THE ESTABLISHMENT OF AN ACCOUNT
WITH THE TRUST COMPANY'S PUBLIC FUNDS INVESTMENT POOL,
"TE%POOV FOR THE PURPOSE OF TRANSMITTING LOCAL FUNDS FOR
INVESTMENT BY THE TRUST COMPANY IN TE%POOL
WHEREAS, the City of Georgetown, Texas, a Home -Rule Municipal
Corporation and political subdivision of theStateof Texas, is
empowered to delegate to apublic funds investment pool the
authority to invest funds and to act as custodian of investments
purchased with local investment funds; and
WHEREAS, the City Council deems it is in the best interest of
the City 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 Treasury 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
City;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF GEORGETOWN, that:
SECTION I,
The City shall establish an account in its name with the Trust
Company's Public Funds Investment Pool "TexPool" for the purpose of
transmitting local funds for investment by the Trust Company in
TexPool,
SECTION II.
The following individuals whose signatures appear below are
officers or employees of the City 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:
Glenn Reynolds, Director of Finance
Signature: �4wvr ICeM �1 h
i
Bonnie McLain, Accounting Supervisor
Signature
PASSED; READ, ,AND APPROVED this day of
1990,
!!7
ATTEST;
Elizabeth Gray, Cit •Secretary
APPROVED AS To FORM;
Marianne Landers Banks, City Attorney