HomeMy WebLinkAboutRES 042302-Q - TexSTAR Participation AgmtA RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, AUTHORIZING A PARTICIPATION
AGREEMENT WITH "TEXSTAR ", A PUBLIC FUNDS INVESTMENT
POOL.
WHEREAS, the City Council has duly authorized this application by adopting the following
resolution at a meeting of the City Council duly called, noticed and held in accordance with the
Texas Open Meeting Law, chapter 551, Texas Local Government Code, on April 23, 2002; and
WHEREAS, it is in the best interest of the City ( "Applicant ") to invest its funds jointly with
other Texas local governments in the Texas Short Term Assess Reserve Program (TexSTAR) in
order to better to preserve and safeguard the principal and liquidity of such funds and earn an
acceptable yield; and
WHEREAS, the City ( "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 BY THE CITY COUNCIL OF THE CITY
OF GEORGETOWN, TEXAS, THAT:
SECTION 1. The form of application for participation in TexSTAR attached to this
resolution is approved. The officers of the 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 the Applicant.
SECTION 2. The facts and recitations contained in the preamble of this resolution are
hereby found and declared to be true and correct, and are incorporated by reference herein and
expressly made a part hereof, as if copied verbatim. The City Council hereby finds that this
ordinance implements the following policy of the Century Plan - Policy Plan Element:
1. Finance Policy End 14.0, which states: "All municipal operations are
conducted in an efficient business -like manner and sufficient financial resources for
both current and future needs are provided ",
And further finds that the adoption of this resolution is not inconsistent or in conflict with
any other Century Plan Policies, as required by Section 2.03 of the Administrative Chapter of the
Policy Plan
TexSTAR Resolution No.
Page 1 of 3
SECTION 3. The TexSTAR Investment Policy is adopted as Applicants investment policy,
the TexSTAR investment officers are designated as Applicant's investment officers and the
TexSTAR 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 Applicants investment policy that any or all of its public
funds under its control may be invested in and through TexSTAR.
SECTION 4. 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 5. Terms used in this resolution have the meaning given to them by the
application.
SECTION 6. Applicant agrees with other TexSTAR 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, designation, delegations and
representations described in the Terms and Conditions of Participation.
SECTION 7. Each of the following Participant officials is designated as Participants
Authorized Representatives authorized to give notices and instructions to the Board in accordance
with the Agreement, the Bylaws, the Investment Policy, and the Operating Procedures:
1. NameMi Michelle A. Rundell _
Signature�- -
2. Name Laurie Brewer
Signat re _._..,ate^✓
3. Name Terry Jones
Signature
Title Director of Finance and Administration
Direct Phone Number 512- 930 -3677
Title Controller
Direct Phone Number 512 -930 -3547
Title Support Services Director
Direct Phone Number 512- 930 -3648
The following Participant official is designated as the Primary Contact and will receive all TexSTAR
correspondence including confirmations and monthly statements:
Name Michelle A. Ru Title Director of Finance and Administration
Signature
TexSTAR Resolution No. 0 51,2 OZ
Page 2 of 3
Direct Phone Number 512- 930 -3677
In addition and at the option of the Participant, one additional Authorized Representative is hereby
designated to perform only inquiry of selected information. This limited representative cannot make
deposits or withdrawals. The Inquiry Only representative is:
Name Leticia Zavala Title Chief Accountant
SECTION 8. The Applicants taxpayer identification number is 74- 6000974, The attached
Bank Information Sheet is approved and incorporated herein by reference to establish accounts in
the name of the Applicant.
RESOLVED this 23rd day of April 2002.
ATTEST-
Sandra D. Lee
City Secretary
APPROVED AS TO FORM:
Patricia Carls, Brown & Carls, LLP
City Attorney
TexSTAR Resolution No. 2
Page 3 of 3
CITY OF GEORGE T0
'By: MARYELLEN KERSCH
Mayor