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<br />". <br />. . <br /> <br />. <br /> <br />RESOLUTION" - !JI)63- 3., <br /> <br />RESOLUTION AUTHORIZING PARTICIPATION IN THE TExSTAR <br />INVESTMENT POOL <br /> <br />The undersigned local government (Applicant) applies and agrees to become a Participant in the Texas <br />Short Term Asset Reserve Program (TEXSTAR). <br /> <br />1. Authorization. The governing body of Applicant has duly authorized this application by adopting <br />the following resolution at a meeting of such governing body duly called, noticed, and held in <br />accordance with .!hf Texas Open Meeting Law, chapter 551, Texas Government Code, on <br />"2-)( , 2~ <br /> <br />WHEREAS, it is in the best interests of this governmental unit (City of La Porte) to invest its funds <br />jointly with other Texas local governments in the Texas Short Term Asset Reserve Program <br />(TEXST AR) in order better preserve and safeguard the principal and liquidity of such funds and to <br />earn an acceptable yield; and <br /> <br />WHEREAS, Applicant is authorized to invest its public funds and funds under its control in <br />TEXST AR and to enter into the participation agreement authorized herein; <br /> <br />NOW, THEREFORE, BE IT RESOLVED THAT: <br /> <br />SECTION 1. The form of application for participation in TEXST AR attached to this resolution is <br />approved. The officers of Applicant specified in the application are authorized to execute and submit <br />the application, to open accounts, to deposit and withdraw funds, to designate other authorized <br />representatives, and to take all other action required or permitted by Applicant under the Agreement <br />created by the application, all in the name and on behalf of Applicant. <br /> <br />SECTION 2. The TEXSTAR Investment Policy is adopted as Applicant's investment policy, the <br />TExSTAR investment officers are designated as Applicant's investment officers, and the TEXSTAR <br />Board is designated as custodian and depository, in each case for Applicant's public funds and funds <br />under its control that are deposited with TEXST AR. Unless Applicant provides a contrary investment <br />policy to TEXST AR, it shall be Applicant's investment policy that any or all of its public funds and <br />funds under its control may be invested and through TEXST AR. <br /> <br />SECTION 3. This resolution will continue in full force and effect until amended or revoked by <br />Applicant and written notice of the amendment or revocation is delivered to the TEXSTAR Board. <br /> <br />SECTION 4. Terms used in this resolution have the meanings given to them by the application. <br /> <br />2. Agreement. Applicant agrees with other TExST AR Participants and the TExST ARBoard to the <br />Terms and Conditions of Participation in TEXST AR, effective on this date, which are incorporated <br />herein by reference. Applicant makes the representations, designations, delegations, and <br />representations described in the Terms and Conditions of Participation. <br /> <br />3. Authorized Representatives. Each of the following Participant officials is designated as Participants <br />Authorized Representative authorized to give notices and instructions to the Board in accordance with <br />the Agreement, the Bylaws, the Investment Policy, and the Operating Procedures: <br />