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<br />155. <br /> <br />RESOLUTION NO. 2002- 82 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS APPROVING AN APPLICATION <br />FOR CITY PARTICIPATION IN THE TEXSTAR <br />INVESTMENT POOL; AND DECLARING AN EFECTIVE <br />DATE. <br /> <br />RECITALS: <br /> <br />WHEREAS, it is in the best interests of this governmental unit ("Applicant") to invest its funds <br />jointly with other Texas local governments in the Texas Short Term Asset Reserve Program (TEXST AR) <br />in order better to preserve and safeguard the principal and liquidity of such funds and to earn an <br />acceptable yield; and <br /> <br />WHEREAS, Applicant is authorized to invest its public funds and funds under its control III <br />TEXST AR and to enter into the participation agreement authorized herein; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS: <br /> <br />PART I. The form of application for participation in TEXST AR attached to this resolution is <br />approved. The officers of Applicant specified in the application are authorized to execute and submit the <br />application, to open accounts, to deposit and withdraw funds, to designate other authorized <br />representatives, and to take all other action required or permitted by Applicant under the Agreement <br />created by the application, all in the name and on behalf of Applicant. <br /> <br />PART 2. The TEXSTAR Investment Policy is adopted as Applicant's investment policy, the <br />TEXST AR investment officers are designated as Applicant's investment officers, and the TEXST AR <br />Board is designated as custodian and depository, in each case for Applicant's public funds and funds <br />under its control that are deposited with TEXST AR. Unless Applicant provides a contrary investment <br />policy to TEXST AR, it shall be Applicant's investment policy that any or all of its public funds and funds <br />under its control may be invested in and through TEXST AR. <br /> <br />PART 3. This resolution will continue in full force and effect until amended or revoked by <br />Applicant and written notice ofthe amendment or revocation is delivered to the TEXST AR Board. <br /> <br />PART 4. Terms used in this resolution have the meanings given to them by the application. <br /> <br />PART 5. This Resolution shall be in full force and effect from and after its passage. <br /> <br />ADOPTED on May 13, 2002. <br /> <br /> <br /> <br />Janis K. Womack <br />City Clerk <br />