HomeMy WebLinkAboutResolution - 2002-R0511 - Resolution Amending Authorized Representatives - 11_21_2002Resolution No. 2002-RO511
November 21, 2002
Item No. 26
RESOLUTION
A RESOLUTION AMENDING
AUTHORIZED REPRESENTATIVES
WHEREAS, CITY OF LUBBOCK (the "City") 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 City 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 Texas Local Government Investment Pool ("TexPool"), 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 LUBBOCK:
SECTION 1. THAT the individuals, whose signatures appear in this Resolution,
are Authorized Representatives of the City and are each hereby authorized to transmit
funds 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.
SECTION 2. THAT an Authorized Representative of the City 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 City's TexPool account or (2) is no longer employed by the City; and
SECTION 3. THAT the City may be Amending Resolution signed by the City
add an Authorized provided the additional Authorized Representative is an officer,
employee, or agent of the City;
SECTION 4. THAT the following persons are Authorized Representatives of the
participant. These individuals will be issued P.I.N. numbers.
1. Name: Andy Burcham
Signature:.,
Title: Cash & Debt Manager
Direct Phone Number (806)775-2149
2. N
Signature
3. N
Signature
4. Name: Quincy White
Signature:
Managing Director of Finance
Direct Phone Number: (806)775-2161
Title: Budget Director
Direct Phone Number: (806)775-2984
Assistant City Manager
Direct Phone Number: (806)775-3089
List the name of the Authorized Representative listed above that will have primary
responsibility for performing transactions and receiving confirmations and monthly
statements under the Participation Agreement.
Name: Andy Burcham
SECTION 5. THAT this Resolution and its authorization shall continue in full
force and effect until amended or revoked by the City, and until TexPool receives a copy
of any such amendment or revocation. This Resolution is hereby introduced and adopted
by the City at its regular/special meeting held on the 21st day of November 2002.
Passed by the City Council this 21st day o:
ATTEST:
Rebecca Garza, City Secretary
AS TO CONTENT:
/Beverly HodAs t
/Managing Der ctor of
APPROVED AS TO
Dtifn VandiV'el'
First Assistant City Attorney
DV:cp LACityattUohn\TexPoo1.res-3 & ccdocs
November 7, 2002