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., *, . . .. ,t r.:. RESOLUTION 93-05 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS, AUTHORIZING EXECUTION OF AN INTERLOCAL INVESTMENT AGREEMENT FOR PARTICIPATION IN THE LONE STAR INVESTMENT POOL. WHEREAS, the City of La Porte, Texas ,is a political subdivision of the State of Texas (the "Participant") and is empowered to delegate to a public funds investment pool the authority to invest funds, to act as a custodian of investments purchased with local investment funds; and WHEREAS, the Inter10ca1 Cooperation Act, Chapter 791 of the Government Code (formerly Article 4413(32c), Vernon's Texas Civil Statutes, as amended), and Article 4413(34c), Vernon's Texas Civil Statutes, as amended (collectively, the "Act"), permit any "local government" to contract with one or more other "local governments" to perform "governmental functions and services," including investment of public funds through "public funds investment pools" (as such phrases are defined in the Act); WHEREAS, the Act authorizes the contracting parties to any inter10ca1 agreement to contract with agencies of the State of Texas, within the meaning of Chapter 771 of the Government Code. WHEREAS, the Act permits the contracting parties to any inter10ca1 agreement to create an administrative agency to supervise the performance of such inter10ca1 agreement and to employ personnel and engage in other administrative activities and provide other administrative services necessary to execute the terms of such inter10ca1 agreement; WHEREAS, the City of La Porte (the "Government Entity") is a local government or an agency of the State of Texas within the meaning of the Act and desires to enter into that certain Inter10ca1 Investment Agreement (the "Agreement"), a copy of which is presented with this Resolution and is incorporated herein by reference, and become a participant in a public funds investment pool created thereunder and known as the Lone Star Investment Pool (the "Pool") sponsored by the Texas Association of School Boards ("TASB"); WHEREAS, the Government Entity desires to designate the Pool as its agency and instrumentality with authority, through its Board of Trustees (the "Board"), to supervise performance of the Agreement, employ personnel and engage in other administrative activities and provide other administrative services necessary to execute the terms of the Agreement; WHEREAS, each capitalized term used in this Resolution and not otherwise defined has the same meaning assigned to it in the Agreement; NOW, THEREFORE, BE IT RESOLVED: 1. The Agreement is hereby approved and adopted and, upon execution thereof by an Authorized Representative (defined below) and receipt of the Government Entity's application to join the Pool by the Administrator, the Government Entity shall become a Participant in the Pool for the purpose of investing its available funds therein from time to time in accordance with its terms. 2. The Pool is hereby designated as an agency and instrumentality of the Government Entity, the Board is hereby designated as the governing body of the Fool and the Pool, througn t'ne Board;- shall have the authorit:y to supervise performance of the Agreement, employ personnel and engage in other administrative activities and provide other administrative services necessary to execute the terms of the Agreement. 3. The investment policies of the Pool, as set forth in the Statement of Investment Policy, as summarized in the Information Statement, and as may be amended from time to time by the Board, are hereby adopted as investment policies of the Government Entity with respect to money invested in the Pool, and any existing investment policies of the Government Entity in conflict therewith shall not apply to investments in the Pool.