Res 2000-136 - Laserfiche WebLink

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136. RESOLUTION 2000- 136 R A RE~'jLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, AUTHORIZING PARTICIPATION IN THE TEXAS LOCAL GOVERNMENT INVESTMENT POOL ("TEXPOOL"); DESIGNATING AUTHORIZED REPRESENTATIVES ON BEHALF OF THE CITY; APPROVING A PARTICIPATION AGREEMENT BETWEEN THE CITY AND TEXPOOL; AUTHORIZING THE CITY MANAGER TO EXECUTE THE AGREEMENT AND RELATED DOCUMENTS ON BEHALF OF THE CITY; AND DECLARING AN EFFECTIVE DATE. RECITALS: 1. The City of San Marcos (the "Participant") is a local government of the State of Texas and is empowered to delegate to a public funds investment pool the authority to invest funds and to act as custodian of investments purchased with local investment funds. 2. It is in the best interest of the Participant to invest local funds in investments that provide for the preservation and safety of principal, liquidity, and yield consistent with the Public Funds Investment Act. 3. TexPool, a public funds investment pool, was created on behalf of entities whose investment objectives in order of priority are preservation and safety of principal, liquidity, and yield consistent with the State Public Funds Investment Act. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. The Participant is authorized to enter into the attached Participation Agreement to establish an account in its name in TexPool. for the purpose of transmitting local funds for investment in T exPool. PART 2. The individuals whose signatures appear in this Resolution, are authorized representatives of the Participant and are each authorized to transmit funds for investment in TexPool and are each further authorized to withdraw funds from time to time, to issue letters of instruction, and to take all other actions deemed necessary or appropriate for the investment of local funds. PART 3. The following individuals are authorized representatives of the Participant and will be issued P.I.N. numbers. Larry D. Gilley Signature: William L. White Signature: Rodney Gonzales Signature: Rodney Gonzales is the aut o~d representative who will have primary responsibility for performing transactions and receiving confirmations and monthly statements under the Participation Agreement. PART4. The City Manager, Larry D. Gilley, is authorized to execute the attached Participation Agreement and related documents on behalf of the City. PART 5. This Resolution and its authorization shall be in full force and effect immediately from and after its passage and shall continue in full force and effect until amended or revoked by the Participant. ADOPTED this the 10 day of July 2000.