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Home My WebLink AboutRES 1994-009 �� RESOLUTION NO. 94-09 � A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS AUTHORIZING THE CITY TO JOIN TEXAS MUNICIPAL ASSET POOL (TMAP►; AUTHORIZING CERTAIN DESIGNATED MEMBERS OF THE FINANCE DEPARTMENT TO TAKE ACTIONS DEEMED NECESSARY OR APPROPRIATE FOR THE INVESTMENT OF LOCAL FUNDS; REPEALING CONFLICTING ORDINANCES AND RESOLUTIONS; AND PROVIDING AN EFFECTIVE DATE WHEREAS, the City of Grapevine (this "Governmental Entity") is a "local government" within the meaning of the Interlocal Cooperation Act, Texas Government Code Sections 791 .001-.029, as amended (the "Interlocal Cooperation Act"), and may contract with one or more other such local governments to jointly invest public funds in any investments in which each such local government may invest; and WHEREAS, under the Public Funds Investment Act of 1987, Article 842a-2, Texas Revised Civil Statutes, as amended (the "Public Funds Investment Act"), the Governmental Entity may invest its public funds in any obligation or security described �°" in Section 2 or 3 of the Public Funds Investment Act; and WHEREAS, joint investment of local public funds is in the best interest of the Governmental Entity and its inhabitants; and WHEREAS, the Governmental Entity therefore desires to authorize the joint investment of its public funds pursuant to the Interlocal Cooperation Act and to enter into a contract with other local governments to provide for the terms on which public funds so invested may be combined, invested, and secured. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS: Section 1 . Authorization of Application; Approval of Contract. The terms of the Application attached hereto as Exhibit "A" are hereby approved. The Mayor of the Governmental Entity is hereby authorized and instructed to execute and deliver, and the City Secretary is hereby authorized to attest, such Application substantially in the form and to the effect attached hereto as Exhibit "A". By so executing the �, application, the Governmental Entity is entering into that certain Investment Contract dated May 27, 1992, creating the Texas Municipal Asset Pool ("TMAP"), as such contract may have been amended prior to the date of this action (the "Investment �, Contract"),and thereuponthe designations,delegations,approvals,and authorizations described thereby shall be authorized, approved, and granted by the Governmental � Entity without further act by this governing body. Section 2. Authorization of lnvestments. Upon the execution of the � Application and entering into the Investment Contract by the Governmental Entity, each officer or employee of the Governmental Entity designated as responsible for the ,� investment of public funds of this Governmental Entity pursuant to Texas Revised Civil Statutes Article 4413134c) as amended (the "Investment Procedures Act"), and each agent thereof named in the Ap[plication, is authorized to transfer public funds of this Governmental Entity to TMAP, provided that, in the case of any Series other than the initial Series created by the Investment Contract, as described in the Information Statement dated May 27, 1992, and any supplements thereto issued prior to the date of this action, (1) the funds of such Series may be invested solely in obligations described in the Public Funds Investment Act or in any other obligations in which this Governmental Entity may lawfully invest its funds, and (2) this Governing Body has approved the investment rules and policies governing such investments. All such transfers shall be made in accordance with investment policies and procedures heretofore adopted by this Governmental Entity pursuant to the Investment Procedures Act, as such policies and procedures may be amended from time to time, but to the same extent as if such policies and procedures expressly authorized such transfers as direct investments of public funds of this Governmental Entity. � Section 3. Effect of Application. By adoption of this action and execution of the Application, this Governmental Entity hereby agrees to be bound by the terms of and enter into the Investment Contract. Further, this Governmental Entity hereby (i) �' � designates the Investment Officer(s► of the one or more series into which this Governmental Entity places its public funds as its Investment Officer for such funds, � (ii) designates any depository or custodian of any such series into which this Governmental Entity places any of its funds as this Governmental Entity's depository and custodian for such funds, (iii) delegates to TMAP the authority to hold legal title to the assets placed with TMAP, (iv) approves the investment objectives, policies, rules and procedures of the initial series of TMAP as the investment objectives, policies, rules and procedures of this Governmental Entity with respect to the assets it may transfer to TMAP. and (v) provides authority to TMAP, its Directors, Investment Advisors, Administrators, officers, employees, and their agents to deposit, withdraw, invest, transfer, and otherwise manage the funds which this Governmental Entity may place with TMAP. Section 4. Notices, Etc. All notices, demands, requests, drafts, consents, approvals, waivers, ballots and other documents and action which may be given or taken by this Governmental Entity under the Investment Contract may be given or taken by any officer of this Governmental Entity who at the time is designated pursuant to the Investment Procedures Act as responsible for the investment of public funds of this Governmental Entity, or any agent thereof designated in the Application. ,,�,,, Section 5. Further Acts. Each officer of this Governmental Entity is hereby authorized to take any and all action necessary to execute the Application and effect the Investment Contract and joint investments authorized hereby and to perform any � obligation of this Governmental Entity thereunder. RES. N0. 94-09 2 Section 6. Repealer. All ordinances, order or resolutions, or parts thereof, which are in conflict or inconsistent with any provision hereof are hereby repealed and declared to be inapplicable to the extent of such conflict, and the provisions hereof ,�, shall be and remain controlling as to the matters resolved herein. Section 7. Effective Date. That this resolution shall take effect from and after the date of its passage. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS on this the 22nd day of March , 1994. APPROVED: �_ William D. Tate Mayor �"""� ATTEST: � Li da Huff City Secretary APPROVED AS TO FORM: John F. Boyle, Jr. City Attorney � � RES. N0. 94-09 3 � �♦ — �w�r � � _ _ o � � m ; , , cr� a � o � .. .. .� ; z � � . ' ; V r �. `� ' ' ° _ ; : � � �'� � + ' � . U � E � ox , � * W � � U � � Q U ; ; � � � � � � o � � o � o � � : � � . � � ; ; i ' � T ; , . -l--� O ; j � ; :>:Y:;;:<.::i:::::::>::>::::•:3::::>::::» � . a i ^:::�................................ � � ' ' �r ��! ' . � � � � � �4 O ' � � . ^ I � ; �;;y?:;.:;%::'=s:�,�;::::��;Fs:?::: :.;: LL �:::•;.........:.:.:. �. ! ................ � � � O � ! � � � � ' � � m � •�� i - i _ . i. 0.. � � � 1 i �:;.w;%i�;::,;;+;;::±:;-::?;� ^ . i i � �i � m �♦) ` � � � r/ � � ' i � �;::: :.:::::::•�::.:�:. L O � � � � i i ! ::::.;::;i:::::::;•.'::::hy`•:'.•;:�:;::� qf � i � � � O N = � � ; � i C c0 � � � o _/ ` � � i � Q a > m ^, � ' � � � W � "� � :::�:::::»>::::<:::::::<;::<:;: � `� c i �� o � � �— �. � O a0 t0 � N O o T O � � � �X'-1:3:i� T0 �� . ,='a3e _..L___ of � _ � i -n-�w,sMUNicnAi. APPLICATlON FOR PARTICIPATION IN TMAP nssr•.r i�cxr_ I. Adoption of Investment Confract. By execution of this Application by the undersigned officer of the Governmental Entity described herein, such Governmental Entiry hereby agrees to be bound by the terms of and enter into the Investment Contract dated as of May 27, 1992, and any amendments thereto entered into prior to this date (the "Investment Contract"), pursuant to which the Texas Municipal Asset Pool ("TMAP") was created. Further, this Governmental Entity hereby (i) designates the Investment Officer(s) of the one or more series into which this Governmental Entity places its public funds as its Investment Officer for such funds, (ii) designates any depository or custodian of any such series into which this Governmental Entity places any of its funds as this Governmental Entity's depository and custodian for such funds, (iii} delegates to TMAP the authority to hpld legal title to the assets placed with TMAP, (iv) approves the investment objectives, policies, rules, and procedures of the initial series of TMAP as the investment objectives, policies, rules, and procedures of this Governmental Entity with respect to the assets it may transfer to TMAP, and (v) provides authority to TMAP, its Directors, Investment Advisors, Administrators, officers, employees, and their agents to deposit, withdraw, invest, transfer, and otherwise manage the funds which this Governmentaf Entity may place with TMAP. ' ll. Genera/Information. �"� - Governmental Entity: City of Grapevine Tax Identification Number: 75-6000546 Mailing Address: P.O. Box 95104 � 413 Main Street Citv: Grapevine Zip: 76099 Telephone Number: (817) 481-0385 FAX Number: (817) 481-0484 Contact Name: Camelia Browder III. Designation of Accounts. The following specific accounts of the Governmental Entiry will be opened with TMAP: 1. City of Grapevine Consolidated Cash 2. 3. 4_ 5. Supp/emental Application for designation of additional accounts in the name of the Governmental Entity can be provided at a later date by an authorized f+nancial official, emp/oyee, or officer of the Governmental Entity. EXHIBIT� TO '�° �`� � � � Page = of �i... iV. Authorized Persons. The following persons are persons responsible for the investment of public funds of this Governmenta) Entity, or authorized agents thereof, duly chosen, qualified, and authorized by the Governmental Entity to authorize redemptions, investments, or payments or retentions of distributions with respect to TMAP, subject to the limitations set forth below, and the signatures shown below are their true and genuine signatures, respectively. Except as specifically set forth below, any such person may authorize redemption proceeds or distributions to be paid to an account of the Government Entity registered in the name of the Government Entity. NAME & TITLE SIGNATURE ACCOUNT RESTRICTIONS �, Larry Koonce, Dir. of Finance �� A � Z. Camelia Browder, Asst. Dir. of Fin��n1X�sL 3. Berla Caster, Accountant (��¢N��/ ��'-a-G�2� 4. S. All authorizations designated above will remain in effect until actual writren notice is received by TMAP. If you wish to change the authorized persons hereunder, please call TMAP to receive appropriate forms and instructions. V. Predesignated Bank Accounts. The following specific accounts of the Governmental Entity to which redemption or distribution proceeds may be sent without additional approval: Bank & Address: Account Info�mation: 1. First National Bank ABA Number: ill 919 174 P.O. Box 1000 Account Title: city of Grapevine Consolidated Cash GraDevine, TX 76099-1000 ACCOU11t NUfllb2f: 4618-5 2. ABA Number Account Title: Account Number: 3. ABA Number: Account Title: Account Number: All authorizations designated above will remain in effect until actual written notice is received by TMAP. If you wish to change bank accounts authorized to receive redemption or disrriburion proceeds, please call TMAP to receive appropriate forms and instructions. _XHIB!T� TO �� VI. Certification. a`�3� � af --`—�—_ As an authorized officer of city of Grapevine I hereby certify that such Governmental Entity has reviewed this Application, the Investment Contract, and the Information Statement as described in Che accompanying action of this Governmental Entity, and that it agrees to the terms of TMAP as described in such documents and such action. I further certify that all signatures herein are true and genuine. WITNE55 OUR HAND this ��day of /"`��cJ , 19 y� Offi er Signature William D. Tate Name Mayor Title Attest: Name Linda Huff Title Citv Secretarv