HomeMy WebLinkAboutResolution - 2008-R0065 - Amend Authorized Representatives To Texpool/Texpool Prime - 02/28/2008Resolution No. 2008-ROO65
February 28, 2008
item No. 5.5
RESOLUTION
A RESOLUTION AMENDING
AUTHORIZED REPRESENTATIVES
WHEREAS, CITY OF LUBBOCK (the "City") is a local government of the State of
and is empowered to delegate to a public funds investment pool the authority to invest
nd 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
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/Texpool Prime"),
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:
IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. THAT the individuals, whose signatures appear in this Resolution, are
uthorized Representatives of the City and are each hereby authorized to transmit funds for
ivestment in TexPool/Texpool Prime and are each further authorized to withdraw funds from
me to time, to issue letters of instruction, and to take all other actions deemed necessary or
Mrooriate for the investment of local funds.
SECTION 2. THAT an Authorized Representative of the City may be deleted by a
ritten instrument signed by all remaining Authorized Representatives provided that the deleted
uthorized Representative (1) is assigned job duties that no longer require access to the City's
exPool/TexPool Prime account or (2) is no longer employed by the City; and
SECTION 3. THAT the City may by Amending Resolution signed by the City add an
zed Representative provided the additional Authorized Representative is an officer,
ee, or agent of the City;
SECTION 4. THAT the following persons are Authorized representatives of the City of
bock. Any new individuals will be issued personal identification numbers to transact
mess with TexPool Participant Services.
Name: Lee Ann Dumbauld Title: City Manager
Signature:4d,Direct Phone Number (806)775-2016
2. Name: Jeffrey A. Yates
Signature:
3. Name: Andy Burcham
Signature:
4. Name: Brandon Inman
1 Signature: y ��
5. Name: Chelsea Keck
Signature:
Title: Chief Financial Officer
Direct Phone Number: (806)775-2161
Title: Director of Fiscal Policy
Direct Phone Number: (806)775-2149
Title: Senior Financial Analyst
Direct Phone Number: (806)775-3320
Title: Financial Analyst
Direct Phone Number: (806)775-2985
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: Brandon Inman
Email binman@mylubbock.us Fax Number (806) 775-2051
In addition and at the option of the City, one additional Authorized Representative can be
designated to perform only inquiry of selected information. This limited representative cannot
perform transactions. The City desires to designate the following representative with inquiry
rights only:
6. Name: Dottie Lewis
Title: Senior Accountant
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 Participant Services receives a
copy of any such amendment or revocation. This Resolution is hereby introduced and adopted by
the City at its regular meeting held on the 28th day of February , 2008.
Passed by the City Council this 28th day of February '2008.
DAVID A. MILLER, MAYOR
ATTEST:
Rebecc Garza, City Secretary
APPROVED AS TO CONTENT:
Chief Unancial Officer
APPROVED AS TO FORM:
Linda L. Chatnales
Senior Attorney/Office Practice Section
LGReso amending Authorized Representatives
11/01/2006
Resolution No. 2008-R0065
RESOLUTION AMENDING
• - • • • • • • • • AUTHORIZED REPRESENTATIVES
WHEREAS, City of Lubbock, Texas/77963
(Participant Name & Location Number)
("Participant") is a 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 Participant to invest local fttnds 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/ Texpoot Prime"), a public funds
investment pool, were 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 as follows:
A. That the individuals, whose signatures appear in this Resolution, are Authorized Representatives of
the Participant and are each hereby authorized to transmit finds for investment in TexPool / TexPool
Prime 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.
B. That an Authorized Representative of the Participant 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 Participant's TexPool / TexPool Prince
account or (2) is no longer employed by the Participant; and
c. That the Participant may by Amending Resolution signed by the Participant add an Authorized
Representative provided the additional Authorized Representative is an officer, employee, or agent
of the Participant;
Authorized Representatives of the Participant are listed in "Exhibit A". Any new individuals will be issued personal
identification numbers to transact business with TexPool Participant Services.
ORIGINALS REQUIRED
TEX — REP
TexPool Participant Services • Lehman Brothers
600 Travis St., Suite 7170 a Houston, TX 77002 a LV1V%V'.le k�wl.cont • 1-866-839-7665
3104
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 Brandon Inman
Email bin man mylubbock.us Fax Number
(806) 775-2051
In addition and at the option of the Participant, one additional Authorized Representative can be designated to
perform only inquiry of selected information. This limited representative cannot perform transactions. If the
Participant desires to designate a representative with inquiry rights only, complete the following information.
Name Dottie Lewis
Title Senior Accountant
D. That this Resolution and its authorization shall continue in full force and effect until amended or
revoked by the Participant, and until TeYPool Participant Services receives a copy of any such amendment or
revocation. This Resolution is hereby introduced and adopted by the Participant at its regular/special meeting
field on the 2&h day_ February 20 QS
NAME OF PARTICIPANT: City
of Lubbock, Te cos
Ile BY:
ATTEST:
DAVID A. MILLER, MAYOR
Printed Name
MAYOR
REBECCA GARZA
Printed Name
CITY SECRETARY
This document supersedes all prior Authorized Representative designations.
ORIGINALS REQUIRED TEX — REP
TexPool Participant Services • Lehman Brothers
600 Travis St., Suite 7200 + Houston, TX 77002 • www.texpool corn
Exhibit A
1. Name: Lee Ann Dumbauld Title: City Manager
Signature: Phone Number: 806 775-3000
2. Name: Jeffre A. Yates Title: Chief Financial Officer
Signature:
Phone Number: 806 775-2161
3. Name: And Burch m Title: Director of Fiscal Polic
Signature: Phone Number: (806) 775-2149
4. Name: Brandon Inman Title: Senior Financial Analyst
Signature: L L/ Phone Number: 806 775-3320
5, Name: Chelsea Keck j Title: Financial Analyst
Signature: 1 Phone Number: (806)775-2985
A;entla Itent #.##
Consider a resolution designating authorized representatives on the City's
accounts with the public funds investment pool known as the Texas Local
Government Investment Pool.
Itetrt Sunmtajujj
The City entered into a Participation Agreement with Texas local Government
Investment Pool (TexPool) on May 28, 1998. This resolution will update and
designate new authorized reprentatives on these accounts. The designation of
"Authorized Representatives" provides full power and authority to transmit funds
for investment in TexPool and 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. All transactions require dual signatures for added
security and compliance with the City's Investment Policy.
"Authorized Representatives" will now include the following individuals:
Lee Ann Dumbauld, City Manager
Jeffrey A. Yates, Chief Financial Officer
Andy Burcham, Director of Fiscal Policy and Strategic Planning
Brandon Inman, Senior Financial Analyst
Chelsea Keck, Financial Analyst
Fiscal Impact
No fiscal impact.
Staff SubnrittljrgIReconinr'etrtlation
Jeffrey A. Yates, Chief Financial Officer
Staff recommends approval.
City Council Meeting,