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<br />ARTICLE I. <br />DEFINITIONS <br /> <br />"Account" shall mean any account or accounts, including any sub accounts, established by the Participant in <br />TexPool in accordance with this Agreement and the Operating Procedures (as defined herein), which Account <br />represents an undivided beneficial ownership in TexPool. <br /> <br />"Authorized Investments" shall mean those investments which are authorized by the Investment Act (as herein <br />defined) for investment of public funds. <br /> <br />"Authorized Representative(s) of the Participant" shall mean any individual who is authorized to execute <br />documents and take such other necessary actions under this Agreement as evidenced by the duly enacted <br />Resolution of the Participant. <br /> <br />"Authorized Representative(s) of the Trust Company" shall mean any employee of the Comptroller who is <br />designated in writing by the Comptroller to act as the authorized Trust Company representative for purposes of <br />the Agreement and shall include employees of any private entity performing the obligations of the Comptroller <br />under this Agreement. <br /> <br />"Board" shall mean the advisory board provided for in the Investment Act (as defined below). <br /> <br />"Investment Act" shall mean the Public Funds Investment Act, TEX. GOY'T CODE ANN. ch. 2256, as <br />amended from time to time. <br /> <br />"Investment Policy" shall mean the written TexPool Investment Policy, as amended from time to time, relating <br />to the investment and management of funds in TexPool as established by the Trust Company consistent with the <br />Investment Act. <br /> <br />"Letter of Instruction" shall mean a written authorization and direction to the Trust Company signed by an <br />Authorized Representative of the Participant. <br /> <br />"Operating Procedures" shall mean the written procedures established by the Trust Company describing the <br />management and operation of TexPooI. and providing for the establishment of, deposits to and withdrawals from <br />the Accounts, as amended from time to time. <br /> <br />"Participant" shall mean any entity authorized by the Acts to participate in a public funds investment pool that <br />has executed an Agreement pursuant to a Resolution. <br /> <br />"Resolution" shall mean the resolution adopted by the governing body of a local governmental entity authorizing <br />that entity participation in T exPool and designating persons to serve as Authorized Representatives of the <br />Participant. <br /> <br />Page 2 <br />