HomeMy WebLinkAboutRES 1998-006 �
RESOLUTION NO. 98-06
�,,, A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS AUTHORIZING DESIGNATED CITY
STAFF TO TAKE ACTIONS DEEMED NECESSARY OR
APPROPRIATE FOR THE INVESTMENT OF LOCAL FUNDS
IN THE TEXAS LOCAL GOVERNMENT INVESTMENT POOL
(TEXPOOL) AND PRIVIDING AN EFFECTIVE DATE
WHEREAS, the City of Grapevine ("Participant") 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, the Texas Local Government Investment Pool (TexPool) a public funds
investment pool, was created on behalf of entities whose investment objectives in order
of priority are preservation and safety of principal, liquidity, and yield consistent with the
Public Funds Investment Act;
WHEREAS, the Participant has entered into a Participation Agreement and has
���� established an account in its name in TexPool for the purpose of transmitting local funds
for investment in TexPool; and
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WHEREAS, the Participant hereby requests changes regarding the individuals
authorized to act on behalf of the Participant.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF GRAPEVINE, TEXAS:
Section 1. That the individuals, whose signatures appear below are authorized
representatives of the Participant and are each hereby authorized to transmit funds 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 the investment of local funds.
Section 2. That the following individuals whose signatures appear below are
authorized representatives of the Participant. These individuals will be issued P.I.N.
numbers. All confirmations and monthly statements will be to the attention of the first
person listed (No. 1):
� 1. Fred L. Werner, Finance Manager
,
.�. ' • -
�.. � .
-(Signature)
�" 2. William A. Gaither, Director of Administrative Services
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(Signature)
3. Bruno Rumbelow, Assistant City Manager
(Signature)
Section 3. That this resolution and its authorization supersede all prior resolutions
and shall continue in full force and effect until amended or revoked by the Participant, and
until TexPool receives a copy of any such amendment or revocation.
Section 4. That this resolution shall become effective from and after the date of its
passage.
��A
�, PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 3rd day of February , 1998.
APPROVED:
William D. Tate
Mayor
ATTEST:
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J d' Brown
��. A istant City Secretary
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RES. NO. 98-0 6 2
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APPROVED AS TO FORM:
� .
John F. Boyle, Jr. p
City Attorney
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RES. N0. 98-06 3