HomeMy WebLinkAboutResolution - 2001-R0287 - Transmission/Withdrawal Of Funds For Investment In Texpool - 07/12/2001Resolution No. 2001-80287
July 12, 2001
Item No. 35
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: 'LL &J"
Title: Cash & Debt Manager
Direct Phone Number (806)775-2149
2. Name: Perry Stout Title: Chief Accountant
Signature:A_ Direct Phone Number: (806)775-2160
3. Name: deve'rly Hodges Managing Director of Finance
Signature: Direct Phone Number: (806)775-2161
4. Name: Qu' cy Whi Assistant City Manager
Signature: _ 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 12th day of July ,
2001.
Passed by the City Council this 12th day of July , 2001.
EM Tj 1641 , UMNA OR•
ATTEST:
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Q-Rebecca Garza, City Secretary
AP
%ROVED AS TO
i
Peverly H
Managing
APPROVED
sA TO FORM:
1 rd rr/1 '/ n a rQ, i
Don Vandiver %
First Assistant City Attorney
DV:cp L:1Cityatt\John\TexPool.res-3 & cedocs
June 22, 2001