Res 2010-169 - Laserfiche WebLink

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fresh water supply district; a hospital district; any other legally constituted political subdivision, authority, public corporation, body politic, or instrument of the State; a combination of two or more of these entities (including a combination of political subdivisions by means of an interlocal agreement governed by the Act); any nonprofit corporation acting on behalf of these entities, or any other entity that may be included in the definition of "local government" in the Act. Participants —the Local Governments and Agencies that are the initial parties to this Agreement and the Local Governments and Agencies that subsequently become parties to this Agreement. Pool —the public funds investment pool created pursuant to this Agreement and known as the "Lone Star Investment Pool." Sponsor —the Texas Association of School Boards, a Texas nonprofit association, acting by and through its duly appointed and acting agents and directors. State —the State of Texas. Statement of Investment Policy —the written Statement of Investment Policy adopted and approved by the Board governing investment and management of Pool assets, as the same may be amended from time to time, subject to the requirements of this Agreement. Section 1.02. General Rules of Construction. (a) Whenever in this Agreement the context requires (1) a reference to the singular number shall include the plural and vice versa and (2) a word denoting gender shall be construed to include the masculine, feminine, and neuter. (b) The titles given to any article or section of this Agreement are for convenience only and are not intended to modify the article or section. ARTICLE II Creation of Pool; Purpose and Objective Section 2.01. Creation of the Pool as an Agency. (a) The initial Participants hereby create and establish, and all subsequent Participants hereby agree to and accept the creation of, a public funds investment pool as their agency and instrumentality pursuant to the Act, known as the "Lone Star Investment Pool" (the "Pool "). (b) The Pool shall hold legal title to and manage all money, investments, and other assets transferred to or acquired by the Pool pursuant to the Act and this Agreement. (c) As an agency and instrumentality of the Participants, the Pool shall have the authority, through its Board, to employ personnel, engage in other administrative activities, and provide other administrative services necessary to accomplish the purpose of this Agreement. Section 2.02. Purpose and Objective. (a) The purpose of the Pool is to provide Local Governments with an investment vehicle for local funds. The general objective of the Pool shall be to provide Participants with the highest possible rate of return for such funds, while maintaining safety of principal. Various Funds established as part of the Pool provide Participants with varying rates of return and liquidity options. (b) To accomplish the Pool's objective, each Participant agrees that the money transferred to a Fund will be commingled with money transferred to such Fund by other participants for the purpose of making authorized 23