Res 2002-082 - Laserfiche WebLink

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156. APPLICATION FOR PARTICIPATION IN TEXSTAR The undersigned local government (Applicant) applies and agrees to become a Participant in the Texas Short Term Asset Reserve Program (TEXSTAR). 1. Authorization. The governing body of Applicant has duly authorized this application by adopting the following resolution at a meeting of such governing body duly called, noticed, and held in accordance with the Texas Open Meeting Law, chapter 551, Texas Government Code, on May 13 20--0..2 WHEREAS, it is in the best interests of this governmental unit ("Applicanf') to invest its funds jointly with other Texas local governments in the Texas Short Term Asset Reserve Program (TEXSTAR) in order better to preserve and safeguard the principal and liquidity of such funds and to earn an acceptable yield; and WHEREAS, Applicant is authorized to invest its public funds and funds under its control in TEXST AR and to enter into the participation agreement authorized herein; Now, THEREFORE, BE IT RESOLVED THAT: SECTION 1. The form of application for participation in TEXST AR attached to this resolution is approved. The officers of Applicant specified in the application are authorized to execute and submit the application, to open accounts, to deposit and withdraw funds, to designate other authorized representatives, and to take all other action required or permitted by Applicant under the Agreement created by the application, all in the name and on behalf of Applicant. SECTION 2. The TEXST AR Investment Policy is adopted as Applicant's investment policy, the TEXST AR investment officers are designated as Applicant's investment officers, and the TEXST AR Board is designated as custodian and depository, in each case for Applicant's public funds and funds under its control that are deposited with TEXST AR. Unless Applicant provides a contrary investment policy to TEXST AR, it shall be Applicant's investment policy that any or all of its public funds and funds under its control may be invested in and through TEXST AR. SECTION 3. This resolution will continue in full force and effect until amended or revoked by Applicant and written notice of the amendment or revocation is delivered to the TEXST AR Board. SECTION 4. Terms used in this resolution have the meanings given to them by the application." 2. Agreement. Applicant agrees with other TEXST AR Participants and the TEXST AR Board to the Terms and Conditions of Participation in TEXSTAR, effective on this date, which are incorporated herein by reference. Applicant makes the representations, designations, delegations, and representations described in the Terms and Conditions of Participation.