HomeMy WebLinkAboutResolution No. 93-21 �2��n���
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RESOLUTION NO. 93-21
A RESOLUTION OF THE CITY COUNCIL �F TH� CITY OF
FRIENDSWOOIa� TBXAS r. AUTHORIZII�ICi �CI]`I`IO�I O$ AN'
INTSRLOCAL INVES�T AGRffi�NT Ff�. PA�1'.ICIP1!��CIC�"
IN T1� LO�TE STAR INV$S�IT PfYOI�, DSSIGtiA��� �
POOL AS AN AG$N� AND INSTR�IMSR`T'�►T:TT9"� APP'RaVINCi
INVES'I'� PC7r,ICIES_ OF Z� PCyO!I;., APP�IpTIrl'G
AUTHfJRI?� RRFRE`�S�';'A'�'��'_S. AND DBSIQ�T�iTIN�
IN�SS� OFFICEg.S.
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WI�REAS, the Interlacal Coaperation Act, Chapter 791 of the
Governm�.nt Cade (farme�ly Article 4413(32c� , Ve�non' s Texas.
Civil Statu.tes, as amended� , and Article 4413( 34c) , Vernon' s
Texas Civil Statutes, as amended. (collectivel�r, the "Rct") ,
permit any "local government" to contract with an� or mare.
other "local. governments" ta perform "goverruIIenta:l functions
and services, "including investment of public funds thraugh
"public funds investment poQls" (as such phrases are def:ined.
in the Act) ;
W�,. the Act authorized the contracting parti.es ta any
interlocal.. agreement to contract wi:th agencies of the State
of Texas, withi.n the meaning of Chapter 771 of the
Gavernment Code.
W'�REAS, the Rct permits the contracting parties ta any
interlacal agreement to create an administrative agency ta
supervise the performance of such interlocal agr�ement and
to employ personnel and engage in other administrative
activities and pravide other administrative services
necessary to execute the terms of such interlocal agreement;
WHERBAS, the City af Friendswoad is a lacal gaverriment of
the State of Texas wi�hin the meaning or the Act and desires.
to enter. inta that certain Interincal Investsnent Agreeiuent
(the "Agreement" ) , a cagy of which is presented_ with this.
ResolutiQn and is incorporated he�ein by ref.erence, and.
become a participant in a public funds inve�tment paal
created thereunder and knawn as the Lone Star Investm�nt
Paol (the "Pool") sponsored -by the Texas. Assa�i.atian af
Schoal Boards ( "TASS" ) ;
�i�AS, the Government Entity desires tQ desiynate the
Pool as its agency and instxtunentality wi.th authQrity,
thraugh its Board of Trust�es (the "Baard" ) , to supervis.�.
performance of the Agreement, empiny persannel and engagc in
other admi.nistrative activities and pr��ide ather
administra.tive seruices necessa�y to ex�cute the terms af
the Agreementr
WF�REA.S, each capitalized te�n used in this_ Resalution and.
not otherwide defined has the same meaning a.�sig�ed ta it in
the Agreement;
NOW, m���'rr.,, B� IT R�LVED BY � CITY . OFr
lii�. V..L 1.Z V,C . y ira�!!�7�
1. Agreement is herehy approved ancY adapt.ed and, upnn
execution thereof by an Authorized Regresentative (defined
below) and receipt of the Government Entity' s applicatian ta
join the PoQl by the Adminis_trator, the Government Enti:ty
shall be�ome a Farticipant in the Pool for the purpo�e af
investing its availab�le funds therein from time ta time in
accordance with its terms.
2. The Pool is here.by designated as an agency and
instr.umentality of the GavernmeIIt Entity, the Bnard is
hereby designated as the governing body of the PQQl and the
Paol, through the Board, sha21 have the authar�ity to
supervise performance a�f the Agr�ement, empl�y gers��l and
engage in other admini�trative activities. and. prQVi�e Qther
admini�trative services necessary ta ecxecute the terms c�f
the Agreement.
3. The investment_ palicies af the Pool, as set farth in. th�
Statement of Investm�nt Policy, as su�mnarized. in the.
Information Statement, and as may be am�nd�d from tirne t�
time by the Board, are hereby adopted as investmen.t palici.e�
of the Government Entity with respect ta maney inv�sted in
the Paol, and any existing investment galicies of the
�overnment F.�tity in canflict thexewith �hall nat apglg to
investments in the Pool.
R93-21.
4. The following officers, officials or emplo.yees of the
Government Entity are hereby designated as "Authorized
Regresentatives," within the meani.ng af the Agreement, with.
full power an�l autharity to" executa the Agreentent., an
appli.cation to join the Pool and ang other dacvments.
required to become a Particigant; deposit maney to anc�
withdraw money from the Governm�nt Entity' s Pool account
fram time to time in accordance with the Agreement and the
Information Statem�nt; and take all ather act.ions deemec�.
necessary ar appr�priate fQr for the investment of f�snds Qf:
the Government Entity:
Cr- �� Director af Adm.inistrative Ser.vicces
Roge Roecker Title
� City Manage=
Ronald E. Cox Title
In accorda.nce with Paol procedures� an Auth.arized
Representative sha11 prcu�tly notify the Pool an�r chang�s. i.n.
who is serving as Authoriz�d Regreseatatives.
5. In additinn tQ the fQregaing Authorize� l�pr�s�tatives,
each Tnvest�ent Offi:cer af the Paol apgainted by th� Baaxd.
f rom time ta time is herelay desigaate�_ as an i��estmea.t.
officer of the Gc�er�ent entity and, as such, shall ha�e
responsibility for inve.sting the share af Pool as�ets.
representing funds of the Governm�t Eatitg.
PASSffi7� APPRQVSD ALID RBS�T..�VgII thi� 19t� da� af Ap=il� 19��93._.
BY• ��J BY: � � �
Mayor. E lyn B. Newman Ronald E. Cox, City Manager
City of Eriendswaad City of Friendswaod
�i�r dQCUment to v,1�ic1a this a=rHticat,� is r.�:E:c:
A TT�ST• is a full, true �sd oorrect crspy �f the originel crr
' ffie axui f reeasd in my office.
1�ttest:��G �g�
• • D7��CJF:t� I���<Eldi�, �I1�iC
Deloris McKen ie, C �i#y �c��ary
City Secretary ��'�e��c��v��c�, T�xaS
lst/R93-21
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