HomeMy WebLinkAboutRES 961112-M - TXPOOL AgmtRESOLUTION NO. 9ZP1/ 1a'177
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN,
TEXAS, AUTHORIZING THE MAYOR TO SIGN A REVISED PARTICIPATION
AGREEMENT WITH TEXAS LOCAL GOVERNMENT INVESTMENT POOL
(TEXPOOL.)
WHEREAS, the TexPool Participation Agreement has been revised to reflect current
statutory references resulting from recent amendments to the Public Funds Investment Act (PFIA)
and the constitutional amendment which abolished the office of the State Treasurer and transferred
the Treasurer's duties and responsibilities to the Comptroller effective September 1, 1996;
WHEREAS, the Participation Agreement also includes various revisions to incorporate
changes in the PFIA and to update operating and amendment provisions; and
WHEREAS, the City Council of the City of Georgetown finds that the revised TexPool
Agreement meets the criteria of the City of Georgetown Investment Policy for appropriate investment
of City funds.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, THAT:
SECTION 1. 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
resolution implements the Finance Policy End 5.0 of the Century Plan - Policy Plan Element, which
states "All municipal operations are conducted in an efficient business -like manner and sufficient
financial resources for both short-term and long-term 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.
SECTION 2. The Mayor is hereby authorized to execute, and the City Secretary to attest
thereto a contract with TexPool on behalf of the City of Georgetown.
SECTION 3. This resolution shall be effective immediately upon adoption.
RESOLVED this 12th day of November, 1996.
ATT jT: THE CITY OF GEORGETOWN:
Sandra D. Lee By: LEO WOOD
City Secretary Mayor
APPROVED AS TO FORM:
Marianne Landers Banks
City Attorney
TexPool Resolution No. 162
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