HomeMy WebLinkAboutR-2000-08
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RESOLUTION 00-08
A RESOLUTION AMENDING AUTHORIZED REPRESENTATIVES FOR THE CITY OF
LA PORTE, TEXAS; MAKING CERTAIN FINDINGS; FINDING COMPLIANCE WITH
THE OPEN MEETINGS LAW; AND PROVIDING AN EFFECTIVE DATE HEREOF.
WHEREAS, The City of La Porte (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 funds 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"), 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.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA PORTE
SECTION 1. That the individuals, whose signatures appear below, are
Authorized Representatives of the Participant and are each hereby authorized to
transmit funds for investment in TEXPOOL 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.
SECTION 2. 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
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longer require access to the Participant's TEXPOOL account or (2) is no longer
employed by the Participant; and
SECTION 3. 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;
SECTION 4. Following is the list of Authorized Representatives of the
Participant. These individuals will be issued P.I.N. numbers.
Name:
Cynthia ~. A1exan~
Signature ~
Michael Dolby
Title: ~ Director
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Name:
Signature
Title: Assistant Finance Director
Name: Shelly Hart Ti e: Ace untantllnvestment Officer
Signature ,,)JtJiJ V 7.lt,.J1 k
The Authorized Representative with primary responsibility for performing transactions
and receiving.confirmations and monthly statements under the Participation Agreement
is Shelly Hart.
SECTION 5. The City Council officially finds, determines, recites and declares that
a sufficient written notice of the date, hour, place and subject of this meeting of the City
Council was posted at a place convenient to the public at the City Hall of the city for the
time required by law preceding this meeting, as required by the Open Meetings Law,
Chapter 551, Texas Government Code; and that this meeting has been open to the public
as required by law at all times during which this ordinance and the subject matter thereof
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has been discussed, considered and formally acted upon. The City Council further ratifies,
approves and confirms such written notice and the contents and posting thereof.
SECTION 6. This resolution shall become effective fourteen (14) days after its
passage and approval. The City Secretary shall give notice to the passage of the notice
by causing the caption to be published in the official newspaper of the City of La Porte at
least twice within ten (10) days after the passage of the Ordinance. Additionally, this
resolution and its authorization shall continue in full force and effect until amended or
revoked by the Participant, and until TEXPOOL receives a copy of any such
amendment or revocation.
PASSED, APPROVED, AND RESOLVED this the~ay Of~, 2000.
CITY OF LA PORTE
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