HomeMy WebLinkAboutCity Council Resolutions (R-91-667)-03/26/1991
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RESOLUTION R-91-667
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS, AUTHORIZING THE CITY TO JOIN
"TEXPOOL" AS ESTABLISHED BY THE TEXAS STATE TREASURY;
AUTHORIZING CERTAIN DESIGNATED MEMBERS OF THE FINANCE
DEPARTMENT TO TAKE ACTIONS DEEMED NECESSARY OR
APPROPRIATE FOR THE INVESTMENT OF LOCAL FUNDS AND
PROVIDING AN EFFECTIVE DATE
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WHEREAS, the City of Colleyville is an agency or political
subdivision of the State of Texas (the "Participant") 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
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WHEREAS, it is in the best interest of the Participant and its
inhabitants to invest local funds in investments that
yield the highest possible rate of return while providing
necessary safekeeping and protection of the principal;
and
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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 Participant.
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
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Sec. 1.
THAT the City of Colleyville establish an account in its
name with the Trust Company's Public Funds Investment
Pool "TexPool II for the purpose of transmitting local
funds for investment by the Trust Company in TexPool.
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Sec. 2.
THAT the following individuals whose signatures appear
below are officers or employees of the Participant and
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:
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Resolution R-91-667
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Name: Terry Leake Title: Finance Director
Signature: LJt5A yd>>/ /lj; V
Name: Pat f26x ,Tine: ,eputy Finance Director
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Signature:
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Sec. 3.
THAT this resolution and its authorization shall continue
in full force and effect until amended or revoked by the
Participant and until the Trust Company receives a copy
of any such amendment or revocation, until such time the
Trust Company is entitled to rely on same.
THAT this resolution take effect from and after the date
of its passage.
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Sec. 4.
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AND IT IS SO RESOLVED.
Passed by a vote of ~'-to k on this the 26th day of March,
1991.
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CITY OF COLLEYVILLE
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Chris Hawkins
Mayor
ATTEST:
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LaVada Johnson
City Secretary
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