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Home My WebLink AboutR-2006-23 amend authorized representatives to TEXPOOL f REQUEST FOR CITY COUNCIL AGENDA ITEM Agenda Date Requested: September 25.2006 Requested By: Michael Dolbr ~ Department: Finance Appropriation Source of Funds: N/A Account Number: N/A Report: Resolution: X Ordinance: Amount Budgeted: N/A Exhibits: Resolution Amending Authorized Amount Requested: Nt a. Representatives of the City of La Porte Budgeted Item: YES NO Exhibits SUMMARY & RECOMMENDATION The Public Funds Investment Act (PFIA) of 1987 requires that governing bodies designate by rule, order, ordinance, or resolution, as appropriate, one or more officers or employees of the entity to be responsible for the investment of its funds consistent with the investment policy adopted by the entity. The City of La Porte currently recognizes the Assistant City Manager, Assistant Finance Director, and Budget/Investment Officer as Investment Officers. We need to amend previous resolutions authorizing representatives to add the Controller as an Authorized Representative to perform transactions for the City of La Porte with the three investment pools, TEXPOOL, LOGIC and TexStar. Additionally, we need to remove the Assistant City Manager, due to the retirement of Cynthia Pearson. This individual has received the required training as mandated by the PFIA. Along with the Resolution to Amend Authorized Representatives required by TexPool, the required forms for LOGIC and TexSTAR are included. Action Required bv Council: Approval of Resolution Amending Authorized Representatives. r -dD -f) ( Date -,LJ RESOLUTIO~-~ A RESOLUTION AMENDING AUTHORIZED REPRESENTATIVES TO THE TEXAS LOCAL GOVERNMENT INVESTMENT POOL ("TEXPOOL") FOR THE CITY OF LA PORTE, TEXAS; MAKING CERTAIN FINDINGS; FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW; AND PROVIDING AN EFFECTIVE DATE HEROF. WHEREAS, The City of La Porte, 77670 (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 longer require access to the Participant's TEXPOOL account or (2) in 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 a list of the Authorized Representatives of the Participant. These individuals will be issued P.I.N. numbers. Signature Name: Michael Dolby Name: Shelley Wolny Title: Bud e ~ ') 11 '/7 Signature tutti J..3' L(;(Qj(/}L(f- Name: Phyllis Rinehartq. . ,..Tltle: Control.ler Sign at e ~LltL) a'1t~{lLt f The Authorized Representative with primary responsibility for performing transactions and receiving confirmations and monthly statements under the Participation Agreement is Phyllis Rinehart. SECTION 5. The City Council officially finds, determines, recites and declares that 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 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. 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 ~th day of ~ 2006. CITY OF LA PORTE, TEXAS (\ (' '0,\ tlJd. \ k'L I.~/J --.- ~ ' .' -. ~ I' By: .... l...:....., \ .I-- Alton Porter, Mayor ATTEST: By: Y!1N}L tfiatl Martlia Gillett City Secretary APPROVED: By: {~T~ ~ ~ox Askins -/ZJr ~ WI ~ CIty Attorney ADDITION/DELETION FORM FOR AUTHORIZED REPRESENTATIVES LOCATION NUMBER: 25508 EFFECTIVE DATE: 10- C( - 2C(;l? PARTICIPANT NAME: City of La Porte PART I: DELETIONS - Please enter the names of the individual(s) to be Representatives. as Authorized PRINTED NAME PRINTED NAME I 1. Cynthia Alexander 3. Inquiry Only Representative* 2. Lori Langelier PART II: ADDITIONS - Please enter the names of the individual(s) to be Representatives. as Authorized PRINTED NAME TITLE SIGNATURE Phyllis Rinehart Controller at:P~c;t;Jzcu,j PART III: APPROVALS - Please enter the names of ai/individuals who are currently Authorized Representatives and who authorize the deletions and additions of the individuals above. Michael Dolby Interim Director of Finance Shelley Wolny Budget/Investment Officer Page 1 TexSTAR~ ADDITION/DELETION FORM FOR AUTHORIZED REPRESENTATIVES PART IV: PRIMARY CONTACT - If the Primary Contact on file with TexSTAR was deleted in Part I of this form, please provide the name of the Authorized Representative that will be the Primary Contact. The Primary Contact is the individual who will receive the daily transaction confirmations, monthly statements, monthly newsletter, TexSTAR Updates and other TexSTAR mailings. [required] Name: Email Address: Phone Number: PART V: INQUIRY ONLY - If an Inquiry Only Representative was deleted in Part I and you wish to replace this representative or add an inquiry only representative to your TexSTAR account for the first time, please list this individual below. This limited representative cannot make deposits or withdrawals or sign Bank Information Sheets. [optional] PRINTED NAME TITLE SIGNATURE If you have any questions regarding this form or the Authorized Representatives currently on file with TexSTAR for your entity, please contact TexSTAR Participant Services at 1-800-839-7827. Page 2 LOGIC ADDITION/DELETION FORM FOR AUTHORIZED REPRESENTATIVES TAX 10 NUMBER: 74-6001552 EFFECTIVE DATE: I 0 -Ol~- )cOlo PARTICIPANT NAME: City of La Porte PART I: DELETIONS - Please enter the names of the individual(s) to be deletedas Authorized Representatives. PRINTED NAME PRINTED NAME 1. Cynthia Alexander 3. 2. Lori Langelier PART": ADDITIONS - Please enter the names of the individual(s) to be added as Authorized Representatives. Inquiry Only Representative* PRINTED NAME TITLE SIGNATURE Phyllis Rinehart Controller c;;~ ~~J PART III: APPROVALS - Please enter the names of all individuals who are currently Authorized Representatives and who authorize the deletions and additions of the individuals above. Michael Dolby Interim Director of Finance Shelley Wolny Budget/I nvestment Officer Page 1 LOGIC PART IV: PRIMARY CONTACT - If the Primary Contact on file with LOGIC was deleted in Part I of this form, please provide the name of the Authorized Representative that will be the Primary Contact. The Primary Contact is the individual who will receive the daily transaction confirmations, monthly statements, monthly newsletter, LOGIC Updates and other LOGIC mailings. [required] Name: Email Address: Phone Number: PART V: INQUIRY ONLY - If an Inquiry Only Representative was deleted in Part I and you wish to replace this representative or add an inquiry only representative to your LOGIC account for the first time, please list this individual below. This limited representative cannot make deposits or withdrawals or sign Bank Information Sheets. [optional] PRINTED NAME TITLE SIGNATURE If you have any questions regarding this form or the Authorized Representatives currently on file with LOGIC for your entity, please contact LOGIC Participant Services at 1-800-895-6442. Page 2