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138. RESOLUTION 2000- 1 37 R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING AND AUTHORIZING EXECUTION OF AN INTERLOCAL AGREEMENT FOR PARTICIPATION IN THE LOCAL GOVERNMENT COOPERATIVE; DESIGNATING THE BOARD OF DIRECTORS OF THE COOPERATIVE AS AN AGENCY AND INSTRUMENTALITY TO SUPERVISE THE COOPERATIVE; APPROVING INVESTMENT POLICIES OF THE COOPERATIVE; APPOINTING AUTHORIZED REPRESENTATIVES ON BEHALF OF THE CITY; DESIGNATING INVESTMENT OFFICERS; AUTHORIZING THE CITY MANAGER TO EXECUTE ALL RELATED DOCUMENTS ON BEHALF OF THE CITY; AND DECLARING AN EFFECTIVE DATE. RECITALS: 1. The Interlocal Cooperation Act, Chapter 791 of the Texas Government Code, as amended (the "Interlocal Act"), permits any "local government" to contract with one or more other "local governments" to perform "governmental functions and services," including investment of public funds (as such phrases are defined in the Interlocal Act). 2. The Interlocal Act authorizes the contracting palties to any interlocal agreement to contract with agencies of the State of Texas, within the meaning of Chapter 771 of the Government Code. 3. The Act permits the contracting parties to any interlocal agreement to create an administrative agency to supervise the performance of such interlocal agreement and to employ personnel and engage in other administrative activities and provide other administrative services necessary to execute the terms of such interlocal agreement. 4. The Public Funds Investment Act, Chapter 2256 of the Texas Government Code, as amended (the "PFIA"), authorizes the entities described in Subsection (a) of the PFIA to invest their funds in an eligible public funds investment pool, and the Local Government Investment Cooperative intends to become and remain an eligible public funds investment pool, under the terms and conditions set forth in PFIA. 5. The City of San Marcos (the "City") desires to enter into the attached Interlocal Agreement (the "Agreement"), and to become a participant in a public funds investment pool created thereunder and under PFIA, to be known as Local Government Investment Cooperative (the "Cooperative"). 6. The City is a "Government Entity" as defined in the Agreement. 7. The City desires to cause administration of the Cooperative to be performed by a board of directors (the "Board") which shall be an administrative agency created under the Interlocal Act. 8. The Government Entity desires to designate the Board as its agency and instrumentality with authority to supervise performance of the Agreement, employ personnel and engage in other administrative activities and provide other administrative services necessary to execute the terms of the Agreement. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. The Agreement is hereby approved and adopt.ed and, upon execution thereof, by an authorized representative (defined below) atlc. reCeipt of the Government Entity's application to join the Cooperative by the Administrator, the Government Entity shall become a participant in the Cooperative for the purpose of investing its available funds therein from time to time in accordance with its terms. PART 2. The Board is hereby designated as an agency and instrumentality of