HomeMy WebLinkAboutRES 2019-021 RESOLUTION NO. 2019-021
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS, AMENDING THE AUTHORIZED
REPRESENTATIVES IN THE TEXPOOL AND TEXPOOL
PRIME INVESTMENT POOLS AND PROVIDING AN
EFFECTIVE DATE
WHEREAS, the City of Grapevine 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 Grapevine 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 current Texas Local Government Investment Pools
("TexPool/TexPOOl Prime"), public funds investment pools, were 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 Finds Investment Act.; and
WHEREAS, the current Texas Local Government Investment Pool authorizations for
account access will be updated to reflect current staff; and
WHEREAS, all legal prerequisites for the adoption of this resolution have been met,
including but not limited to the Local Government Code and the Open Meetings Act; and
WHEREAS, the City Council hereby declares that the approval of this resolution is
in the best interests of the health, safety, and welfare of the public.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS:
Section 1. That all matters stated hereinabove are found to be true and correct
and are incorporated herein by reference as if copied in their entirety.
Section 2. That TexPool and TexPool Prime accounts will be managed by the
Chief Financial Officer with the signatories on the pool accounts being the Chief Financial
Officer, Managing Director of Financial Services, Management Services Director, and the
Treasurer. The individuals whose names appear in the attached Exhibit "A" are hereby
designated as Authorized Representatives of the City of Grapevine and are each hereby
authorized to transmit funds for investment in TexPool and TexPool Prime.
Section 3. That this resolution and its authorization shall continue in full force and
effect until amended or revoked by the City of Grapevine.
Section 4. 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 2nd day of April, 2019.
APPROVED:
William D. Tate
Mayor
ATTEST:
/OF
Tara Brooks
City Secretary
APPROVED AS TO FORM:
'N\
City Attorney
I L
Resolution No. 2019-021 2
a
EXHIBIT "A"
Authorized Representatives
Greg Jordan, Chief Financial Officer
Jeffrey Strawn, Managing Director of Financial Services
Gary Livingston, Management Services Director
Shellie Johnson, Treasurer
Resolution No. 2019-021 3
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