RESO 1990-09 - TexPool AuthorizationRESOLUTION NO. 90 -9
A RESOLUTION AUTHORIZING THE CITY OF HUNTSVILLE TO PARTICIPATE IN
"TEXPOOL ".
WHEREAS The City of Huntsville is a political subdivision 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 and its inhabitants to
invest local funds in investments that yield the highest possible
rate of return while providing necessary safekeeping and
protection of the principal; and
WHEREAS the Treasurer of the State of Texas acting by and through the
Texas Treasury Safekeeping Trust Company (the "Trust Company ") has
created "TexPool ", a public funds investment pool to effectuate
the goals of providing investments at the highest possible yield
and maintaining complete safety of the funds of the Participant,
NOW THEREFORE, be it resolved by the City Council of the City of Huntsville,
Texas:
1. That the City of Huntsville establish an account in its name with the
Trust Company's Public Funds Investment Pool "TexPool" for the purpose
of transmitting local funds for investment by the Trust Company in
"TexPool ".
2. That the following individuals whose signatures appear below are
officers or employees of the City and are each hereby authorized to
transmit funds to the Trust Company 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 he investment of local funds:
Name: Jane Mlofday, Mayor
Signature:
Name:
Signature:
Name:
Signature: /tt t( (
Name: Lee Ann Victery, Fi nce Coordinator
Signature: ` -" 4-% Le 74.iyial-
Gen
Allen, Director of Finance
3. That this Resolution and its authorization shall continue in full force
and effect until amended or revoked by the City and until the Trust
Company receives a copy of any such amendment or revocation, until such
time the Trust Company is entitled to rely on same.
This Resolution is hereby introduced and adopted by the City of Huntsville at
its regular meeting held on the 67-* day of /21/arch , 1990.
APPROVED AS TO FORM:
ig unds
B , City Attorney
THE CITY OF7HUNTSVILLE
Its May 44, Jane Monday