Res 2000-136 - Laserfiche WebLink

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ARTICLE III. P ARTICIP A TION REQUIREMENTS Section 3.01. The Participation Agreement. The Participant must execute this Agreement and provide a Resolution authorizing participation in TexPool and designating persons to serve as Authorized Representatives of the Participant and any other documents as are required under, and substantially in the form prescribed by, the Operating Procedures before depositing any funds into TexPool. Section 3.02. Operating Procedures (a) The Participant acknowledge receipt of a copy of the Operating Procedures. The Operating Procedures describe in detail the procedures required for the establishment of accounts, deposits to and withdrawals from TexPool, and related information. (b) The Operating Procedures may be modified by the Trust Company as appropriate to remain consistent with established banking practices and capabilities and when such modification is deemed necessary to improve the operation of TexPool. (c) The Participant hereby concurs with and agrees to abide by the Operating Procedures. ARTICLE IV. INVESTMENTS Section 4.01. Investments. All monies held in TexPool shall be invested and reinvested by the Trust Company or Authorized Representatives of the Trust Company only in Authorized Investments in accordance with the Agreement. the Investment Policy and the Investment Act. Participant hereby concurs with any such investment so made by the Trust Company. TexPool's available funds that are uninvested may be held at the Trust Company's account at the Federal Reserve Bank of Dallas or any designated custodian account. All investment assets and collateral will be in the possession of the Trust Company and held in its book-entry safekeeping account at the Federal Reserve Bank or any designated custodian account. Section 4.02. Failed Investment Transaction. In the extraordinary event that a purchase of securities results in a failed settlement, any resulting uninvested funds shall remain in the Trust Company's Federal Bank of Dallas account or any designated custodian account. If an alternative investment can be secured after the failure of the trade to settle. TexPool will receive all the income earnings, including but not limited to, any compensation from the purchaser failing in the trade and the interest income from the alternative investment. Section 4.03. Investment Earnings and Losses Allocation. All interest earnings in TexPool will be valued daily and credited to the Participant's Accounts monthly, on a pro rata allocation basis. All losses, if any. resulting from the investment of monies in TexPool shall also be allocated on a pro rata allocation basis. All earnings and losses will be allocated to the Participant's Accounts in accordance with generally accepted accounting procedures. Section 4.04. Commingling of Accounts. Participant agrees that monies deposited in TexPool may be commingled with all other monies held in TexPool for purposes of common investment and operational efficiency. However, each Participant will have separate Accounts on the books and records of TexPool, as further provided for in the Operating Procedures. Page 4