RESO 2004-10 - Amend authorized representatives in MBIA-Municipal Investors Service CorporationRESOLUTION NO. 2004-10
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
HUNTSVILLE, TEXAS, AMENDING THE AUTHORIZED
REPRESENTATIVES IN MBIA- MUNICIPAL INVESTORS SERVICE
CORPORATION.
WHEREAS, the City of Huntsville 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; and
WHEREAS, it is in the best interest of the City of Huntsville 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; and
WHEREAS, the Municipal Investors Service Corporation ( "MBIA "), a public funds
investment pool, was created on behalf of entities whose investment objective in order of priority are
preservation and safety of principal, liquidity, and yield consistent with the Public Funds Investment
Act;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
HUNTSVILLE, TEXAS, that:
SECTION 1: The individuals, whose signatures appear in this Resolution, are the
Authorized Representatives of the City of Huntsville and are each hereby authorized to transmit
funds for investment in MBIA 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.
SECTION 2: An Authorized Representative of the City of Huntsville may be deleted by a
written instrument signed by all remaining Authorized Representatives provided that the deleted
Authorized Representative is: 1) assigned job duties that no longer require access to the City of
Huntsville's MBIA account, or 2) no longer employed by the City of Huntsville.
SECTION 3: The City of Huntsville may by Amending Resolution signed by the Participant
add an Authorized Representative provided the additional Authorized Representative is an officer,
employee, or agent of the City of Huntsville.
SECTION 4: Listed below are the Authorized Representatives of the City of Huntsville.
These individuals will be issued P.I.N. numbers:
1. Winston Duke, Director of Finance
(936) 291 -5437
2. Liesa Hackett, Adm. Coordinator for Finance ac
(936) 291-5435
Marcella Metz, Accountant I
(936) 291-5443
4. Steve Ritter, Accountant II
(936) 291-5486
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SECTION 5: Liesa Hackett will be the Authorized Representative with primary
responsibility for performing transactions and receiving confirmations and monthly statements for
MBIA.
SECTION 6: In addition, one additional Authorized Representative is designated to perform
only inquiry of selected information. This limited representative cannot make deposits or
withdrawals.
5. Kevin Evans, City Manager
(936) 291-5400
SECTION 7: This Resolution and its authorization shall continue in full force and effect
until amended or revoked by the City of Huntsville, and until MBIA receives a copy of such
amendment or revocation.
INTRODUCED and ADOPTED by the City Council of the City of Huntsville at its regular meeting
on this the 15th day of June 2004.
CITY OF HTJNTSVI TEXAS
Jack K. oate,
Danna Welter, City Secretary
APPROVED AS TO F
Thomas A. Leepef, 'City Atkorney