HomeMy WebLinkAboutCity Council Resolutions (R-91-670)-03/26/1991
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RESOLUTION R-91-670
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS AUTHORIZING THE CITY TO ENTER INTO A
SAFEKEEPING AGREEMENT, AUTHORIZING CERTAIN DESIGNATED
MEMBERS OF THE FINANCE DEPARTMENT TO TAKE ACTIONS DEEMED
NECESSARY OR APPROPRIATE FOR THE SAFEKEEPING OF PUBLIC
FUNDS INVESTMENT AND PROVIDING AN EFFECTIVE DATE.
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WHEREAS, the City of Colleyville, Texas, (the "City") by and
through certain members of the City's Finance Department,
from time to time purchase investments with the City'S
idle funds,
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WHEREAS, these investments are not physical securities and are
recorded through the Federal Reserve Wire System, the
necessity arises to have these securities safekept at a
member bank of the Federal Reserve Wire System.
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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 above and foregoing preamble is incorporated
herein as if copied herein in its entirety.
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Sec. 2.
THAT the Mayor is hereby authorized and empowered to
execute the Funds Transfer Agreement with First City
Texas lithe Bank".
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Sec. 3.
THAT the following individuals whose signatures appear
below are officers or employees of the City and are
hereby authorized to provide safekeeping instructions to
the Bank as to the purchase of any securities.
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Name: Terry Leake
Title: Finance Director
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Finance Director
Signature:
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Name: Pat
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Signature:
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Sec. 4.
THAT the authority conferred herein may be exercised
singly by any of such officers and shall continue in full
force and effect until such time as written notice of the
revocation of such authority shall be provided to the
Bank.
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Resolution R-91-670
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THAT this resolution shall be in full force and effect
from and after its date of passage.
Sec. 5.
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AND IT IS SO RESOLVED.
5 Passed by a vote of ~ to [) on this the 26th day of March,
1991.
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ATTEST: ,,"" -{/;
-fd I M~L7~
d~~ Johnson
City Secretary
CITY OF COLLEYVILLE
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Chris Hawkins
Mayor
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Ross T. Foster
City Attorney
LEGALITY:
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