HomeMy WebLinkAboutResolution - 2002-R0509 - Agreement To Participate In TX Short Term Asset Reserve Program - 11/21/2002Resolution No. 2002—RO509
November 21, 2002
Item No. 24
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK
THAT the Mayor of the City of Lubbock BE and is hereby authorized and
directed to execute for and on behalf of the City of Lubbock, an Application/Agreement
to become a Participant in the Texas Short Term Asset Reserve Program (TexSTAR), by
and between the City of Lubbock and First Southwest Asset Management, Inc., and
related documents. Said Application/Agreement is attached hereto and incorporated in
this Resolution as if fully set forth herein and shall be included in the minutes of the City
Council.
Passed by the City Council this 21st day of November 2002.
ATTEST:
Rebecca Garza
City Secretary
APPROVED AS TO CONTENT:
-. "', j , ,
Andy B rcham
Cash & Debt Manager
APPROVED AS TO FORM:
William de Haas
Contract Manager/Attorney
CCdocs/kb/TexSTARres
November 12, 2002
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Resolution No. 2002-RO509
November 21, 2002
Item No. 24
APPLICATION FOR PARTICIPATION IN TExSTAR
The undersigned local government (Applicant) applies and agrees to become a Participant in the Texas Short Term
Asset Reserve Program (TEXSTAR).
1. Authorization. The governing body of Applicant has duly authorized this application by adopting the
following resolution at a meeting of such governing body duly called, noticed, and held in accordance with the
Texas Open Meeting Law, chapter 551, Texas Government Code, on November 21 2002
WHEREAS, it is in the best interests of this governmental unit ("Applicant") to invest its funds jointly with other
Texas local governments in the Texas Short Term Asset Reserve Program (TEXSTAR) in order better to
preserve and safeguard the principal and liquidity of such funds and to earn an acceptable yield; and
WHEREAS, Applicant is authorized to invest its public funds and funds under its control in TEXSTAR and to
enter into the participation agreement authorized herein;
Now, THEREFORE, BE IT RESOLVED THAT.
SECTION 1. The form of application for participation in TEXSTAR attached to this resolution is approved. The
officers of Applicant specified in the application are authorized to execute and submit the application, to open
accounts, to deposit and withdraw funds, to designate other authorized representatives, and to take all other
action required or permitted by Applicant under the Agreement created by the application, all in the name and
on behalf of Applicant.
SECTION 2. The TEXSTAR Investment Policy is adopted as Applicant's investment policy, the TEXSTAR
investment officers are designated as Applicant's investment officers, and the TDCSTAR Board is designated
as custodian and depository, in each case for Applicant's public funds and funds under its control that are
deposited with TEXSTAR. Unless Applicant provides a contrary investment policy to TEXSTAR, it shall be
Applicant's investment policy that any or all of its public funds and funds under its control may be invested in
and through TEXSTAR
SECTION 3. This resolution will continue in full force and effect until amended or revoked by Applicant and
written notice of the amendment or revocation is delivered to the TExSTAR Board.
SECTION 4. Terms used in this resolution have the meanings given to them by the application."
2. Agreement. Applicant agrees with other TD(STAR Participants and the TEXSTAR Board to the Terms and
Conditions of Participation in TEXSTAR, effective on this date, which are incorporated herein by reference.
Applicant makes the representations, designations, delegations, and representations described in the Terms
and Conditions of Participation.
3. Authorized Representatives. Each of the following Participant officials is designated as Participants
Authorized Representative authorized to give notices and instructions to the Board in accordance with the
Agreement, the Bylaws, the Investment Policy, and the Operating Procedures:
Name Signature Title
Andy Burcham Cash & Debt Manager
................................... A .........................................
Beverly Hodges Managing Dir. of Finance
Quincy White Assistant City Manager
.................................... .......... .. ....y. ........................................
Melissa Trevino /,�y��nf) Budget Director
...................................... ...... I`...!L/•...................................
Direct Phone
(806)775-2149
(806)775-2160
............................
(806)775-3089
(806)775-2984
The following Participant official listed above is designated as the Primary Contact and will receive all
TexSTAR correspondence including transaction confirmations and monthly statements [required]:
Name E-mail address
Andy Burcham aburcham@mail.ci.lubbock.tx.us
.......................................................... ............................. .....I.........................
The following Participant official not listed above is designated as a Participant Inquiry Only Representative
authorized to obtain account information [optional]:
Name
Signature
Title
Applicant may designate other authorized representatives by written instrument signed by an existing
Applicant Authorized Representative or Applicant's chief executive officer.
4. Taxpayer Identification Number. Applicant's taxpayer identification number is J5-6000590
5. Bank Information Sheet(s). The attached Fnsert quantity] ..... ..... Bank Information Sheet(s) is or are
approved and incorporated herein by reference to establish account(s) in the name of Applicant.
Dated this .11/21/2002
.........................................
ATTEST:
Rebecca Garza, City Secreta y
CITY OF LUE
...............................
(Na are o
By-
ICK, TEXAS
.............................
plicant)
.........................................
(Si ature of official)
Marc McDougal, Mayor
......................................................................
(Printed name and title)
Approved and accepted:
TEXAS SHORT TERM ASSET RESERVE FUND
By: FIRST SOUTHWEST ASSET MANAGEMENT, INC.,
Participant Services Administrator
By:.................�P.�.... Date: �.�..�,��.�.....
Authori
zed Signer
APPROVED AS TO CONTENT:
Andy Burcham, Cash & Debt Manager
APPROVED AS TO FORM:
William de Haas
Contract Manager/Attorney