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R-2000-08
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R-2000-08
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Last modified
11/2/2016 3:48:38 PM
Creation date
7/27/2006 2:27:44 PM
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Legislative Records
Legislative Type
Resolution
Legislative No.
R-2000-08
Date
5/22/2000
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<br />e <br /> <br />. <br /> <br />RESOLUTION 00-08 <br /> <br />A RESOLUTION AMENDING AUTHORIZED REPRESENTATIVES FOR THE CITY OF <br />LA PORTE, TEXAS; MAKING CERTAIN FINDINGS; FINDING COMPLIANCE WITH <br />THE OPEN MEETINGS LAW; AND PROVIDING AN EFFECTIVE DATE HEREOF. <br /> <br />WHEREAS, The City of La Porte (Participant) is a local government of the State <br /> <br />of Texas and is empowered to delegate to a public funds investment pool the authority <br /> <br />to invest funds and to act as custodian of investments purchased with local investment <br /> <br />funds; and <br /> <br />WHEREAS, it is in the best interest of the Participant to invest local funds in <br /> <br />investments that provide for the preservation and safety of principal, liquidity, and yield <br /> <br />consistent with the Public Funds Investment Act; and <br /> <br />WHEREAS, the Texas Local Government Investment Pool ("TEXPOOL"), a <br /> <br />public funds investment pool, was created on behalf of entities whose investment <br /> <br />objective in order of priority are preservation and safety of principal, liquidity, and yield <br /> <br />consistent with the Public Funds Investment Act. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA PORTE <br /> <br />SECTION 1. That the individuals, whose signatures appear below, are <br />Authorized Representatives of the Participant and are each hereby authorized to <br /> <br />transmit funds for investment in TEXPOOL and are each further authorized to withdraw <br /> <br />funds from time to time, to issue letters of instruction, and to take all other actions <br /> <br />deemed necessary or appropriate for the investment of local funds. <br /> <br />SECTION 2. That an Authorized Representative of the Participant may be <br /> <br />deleted by a written instrument signed by all remaining Authorized Representatives <br /> <br />provided that the deleted Authorized Representative (1) is assigned job duties that no <br />
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