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HomeMy WebLinkAboutRes 2020-10-809 Texas Class TrustGet to know Texas CLASS Money Flarket Funds 13.64% U.S. Treasury 5ecudttes - 2.949 Commerctal Paper A -1/P-1 26.42% Texas CLASS is a local government investment pool that allows local governments, such as yourself, to pool funds together to collectively earn interest on investments. Our philosophy is, and has always been, to provide competitive returns while adhering to all objectives of safety and liquidity. Both Texas CLASS Government and Texas CLASS carry a'AAAm' rating from S&P Global Ratings. Portfolio Distribution** Repurchase A°reements Government Obligation 0.11% Commerctal Paper A -1+/P-1 54.00% Collateralized Bank Deposttr 35.129b Repurchase Agreements - - 1.79% U.S. Government Anency Securlttes 26.75°�6 U.S. Treasury Securities 19.12% Money Market Funds 17.22% Participant Breakdown by Balance** Special Dis`�`�` Countv 20.38°i Other_ _ 4.04% scnool 37.77% Municipality 17.81% Texas CLASS welcomes all local governments without favor to one type. The Board of Trustees and Advisory Board membership represents the diversity of such entities and works to maintain a product that services the needs of all. ource: Public Trust Advisors's*Average The Texas CLASS portfolio distribution strategy focuses on minimizing market risk and enhancing safety via diversified investments. Funds of the Participants are invested in prime or high grade, short-term fixed income instruments as illustrated to the left. Texas CLASS Board of Trustees Steve Williams, Chairman Amy Perez Asst. City Administrator/CFO City of Conroe Monika Arris Director of Budget &Finance Collin County Cindy Yeatts Brown Treasurer Denton County Rodney Rhoades Deputy Director -Admin. Services North Texas Municipal Water Dist. Director of Financial Management Harris County Mike Hagar Asst. Supt, of Business &Finance Alamo Heights ISD Heather Hurlbert Director of Finance City of San Marcos Texas CLASS Advisory Board Art Alfaro Qualified Non -Participant Art Martin Chief Financial Officer Slaton ISD Mark Burton President Burton Accounting, PLLC Roger Roecker Qualified Non -Participant Smay not equal 10090 due to rounding. Performance results are shown net of all fees and expenses and reflect the reinvestment of dividends and other earnings. Many factors affect performance including changes in market conditions and interest rates and in response to other economic, political, or financial developments. Investment involves risk including the possible loss of principal. No assurance can be given that the performance objectives of a given strategy will be achieved. A 'AAAm' rating by S&P Global Ratings is obtained after 5&P evaluates a number of factors including credit quality, market price exposure, and management. Ratings are subject to change and do not remove credit risk. Past performance is no guarantee of future results. Any financial antl/or investment decision may Incur losses. monthly yield. "Data as of June 30, 2020. Data unaudited. Charts Invest with Texas CLASS Investing with Texas CLASS could mean more for your local community. Use the Texas CLASS investment calculator to see just how much you could have earned. Texas CLASS Texas CLASS Government Amount Invested Amount Invested Si,000000 51,000,000 StartDate Start Date You would have earned You would have earned September 1, 2019 $13,77 7.34 September 1, 2019 $11,15 3.65 End Date End Date on your investment if you started on — on your Investment If you started on Sptember 1, 2020 September 1, 2020 e �- September 1, 2019 _ September 1, 2019 Investment Fund Investment Fund Texas CLASS v' Texas CLASS Government v� $100K $1M $10M � � j $100K $1M $10M 6 months $394 $3,938 $39,385 6 months $227 $2,268 $22,678 12 months $1,378 $13,777 $137,773 12 months $1,115 $11,154 $111,536 2019-2020 Texas CLASS Average Monthly Yields Contact Us Month Year Texas CLASS Texas CLASS Government August 2020 0.3186% 0.1896% July 2020 0.4547% 0.2567% June 2020 0.5899% 0.3122% May 2020 0.7572% 0.3716% April 2020 1.0995% 0.5259% March 2020 1.4668% 1.0409% February 2020 1.7710% 1.6068% January 2020 1.8582% 1.6073% December 2019 1.8808% 1.6419% November 2019 1.9380% 1.6971% October 2019 2.0878% 1.9278% September 2019 2.2048% 2.1482% Danny King Manager danny.kingCtexasclass.com (512) 914-6104 Karen Proctor Regional Director karen.proctor@texasclass.com (214) 458-1835 Tony Sekaly Regional Director tony.sekalyC2jtexasclass.com (713) 502-8575 Source: Public Trust Advisors Data unaudited. Values presented may not add up precisely to absolute figures due to rounding. Performance results are shovm net of all fees and expenses and reflect the reinvestment of dividends and other earnings. klany factors affect performance including changes in market conditions and interest rates and in response to other economic, political, or financial developments. Investment involves risk including the possible loss of principal. No assurance can be given that the performance objectives of a given strategy will be achieved. Past performance is no guarantee of future results. Any financial and/or Investment decision may incur losses. Texas CLASS I T (800) 707-6242 I F (855) 848-9910 I info@texasclass.com I www.texasclass.com \ S° Registration Packet S° Registration Packet Texas ClL �� Texas Cooperative Liquid Assets Securities System Trust Welcome to Texas CLASS We believe you have made a sound financial decision in choosing the Texas Cooperative Liquid Assets Securities System Trust (Texas CLASS). We look forward to being your trusted provider and are excited to connect with you to make your investment process a positive, easy experience. Texas CLASS is a short-term, highly liquid investment program designed specifically for public -sector funds. It provides the opportunity to invest funds on a cooperative basis in short-term investments that are carefully selected to provide maximum safety and liquidity while generating a competitive yield. This packet contains all the materials necessary to set up your Texas CLASS account(s). If you have any questions about the registration process or about your Texas CLASS account(s), please do not hesitate to contact us. The Texas CLASS Client Service team can be reached any business day from 8:30 a.m. to 4:30 p.m. CT by phone at (800) 707-6242 or by email at clientservicesO)texasclass, corn . Thank you for choosing Texas CLASS! Sincerely, The Texas CLASS Board of Trustees 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 1 Texas CLTexas Cooperative Liquid Assets Securities System Trust Registration Procedures To join Texas CLASS, please complete the following: 1) Read the Trust Agreement (A copy can be found on www.texasclass.com). 2) Pass the resolution authorizing participation in Texas CLASS (page 3 and 4). 3) Adopt the Trust Agreement by signing Exhibit D (page 5). 4) Complete the Entity Registration (page 6). 5) Complete the Authorized Contacts Form (page 7/8). 6) Complete the Account to be Established Form; you may open as many accounts as you wish (page 9). 7) Keep the original forms for your records, and send the completed packet to the Texas CLASS Client Service team by fax (855) 848-9910 or by email clientservices(@texasclass.com. Questions? Please contact us; we would love to hear from you! Texas CLASS Client Service Team T (800) 707-6242 clientservices(&texasclass.com 717 17th Street, Suite 1850 Denver, Colorado 80202 T (800) 707-6242 F (855) 848-9910 Page 2 clientservices@texasclass.com www.texasclass.com Texas CI 5 Texas Cooperative Liquid Assets Securities System Trust Resolution to Participate WHEREAS, the Public Funds Investment Act, Texas Government Code, Section 2256.001 et seq. (the Act) requires the governing body of each local government in this state to adopt investment policies in accordance with the terms of the Act; and WHEREAS, pursuant to the requirements of the Act, the City Council (the Governing Body) of the City of Anna (the Local Government) has previously reviewed and adopted an investment policy (the Policy) that provides in part that the funds of the local government will be invested in investments permitted by the Act in order to: (i) invest only in investments legally permitted under Texas law; (ii) minimize risk by managing portfolio investments so as to preserve principal and maintain a stable net asset value; (iii) manage portfolio investments to ensure that cash will be available as required to finance operations; and (iv) maximize current income to the degree consistent with legality, safety, and liquidity; and WHEREAS, Alan Guard Government; and pursuant to the Policy and the Act, the Local Government has appointed (the Investment Officer) to act as the investment officer of the Local WHEREAS, the Act provides that funds under the control of a Local Government may be invested through investment pools meeting the standards of Section 2256.016 of the Act; and WHEREAS, the Local Government has received and reviewed the Information Statement, dated December 2016 (the Information Statement), of Texas Cooperative Liquid Assets Secures System Trust (the Program), an investment pool administered by Public Trust Advisors, LLC that sets forth the information required by Section 2256.016(b) of the Act; and WHEREAS, the Local Government has determined that the investments proposed to be acquired by the Program are of a type that are permitted by the Act and are consistent with the Policy; and WHEREAS, the Local Government has determined that an investment in the Program will assist the Local Government in achieving the goals set forth in the Policy and will tend to preclude imprudent investment activities arising out of investment transactions conducted between the Local Government and the Program; and WHEREAS, the Local Government understands that the Program operates through the Eighth Amended and Restated Trust Agreement dated as of April 8, 2019 (the Trust Agreement), that provides the terms on which the Program will operate and the rights of the Participants in the Program and sets forth the responsibilities of Public Trust Advisors, LLC as the administrator of the Program (the Administrator) and of Wells Fargo Bank as custodian (the Custodian); 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 3 Texas CFJ L Texas Cooperative Liquid Assets Securities System Trust NOW THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE LOCAL GOVERNMENT: That the form, terms, and provisions of the Trust Agreement, a draft of which was presented and reviewed at this meeting, providing for the creation of the Program and for the rights of the Program Participants and the duties and responsibilities of the Administrator be and the same are hereby approved and adopted; and that the Investment Officer be and he or she is hereby authorized and directed to execute and deliver to the Administrator and the Custodian in the name and on behalf of the Local Government a participation certificate evidencing the agreement of the Local Government to be bound by the Trust Agreement substantially in the form of the Trust Agreement reviewed and approved at this meeting, together with such changes therein as may be approved by the said officer, such approval to be conclusively evidenced by the execution thereof; and be it further Resolved that the investment program established by the Trust Agreement is hereby found and determined to be consistent with the Policy and to preclude imprudent investment activities arising out of investment transactions conducted between the Local Government and the Program; and be it further Resolved that the Governing Body hereby officially finds and determines that the facts and recitations contained in the preamble of this Resolution are true and correct; and be it further Resolved that the Governing Body hereby finds and declares that written notice of the date, hour, place, and subject of the meeting at which this Resolution was adopted was posted for the time required by law preceding this meeting and that such meeting was open to the public as required by law at all times during which this Resolution and the subject matter thereof were discussed, considered, and formally acted upon all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended, and the Act; and be it further Resolved that the officers of the Local Government, and each of them, shall be and each is expressly authorized, empowered, and directed from time -to -time to do and perform all acts and things and to execute, acknowledge, and deliver in the name and under the corporate seal and on behalf of the Local Government all certificates, instruments, and other papers, whether or not herein mentioned, as they may determine to be necessary or desirable in order to carry out the terms and provisions of this Resolution and of the Trust Agreement hereby authorized and approved, such determination to be conclusively evidenced by the performance of such acts and things and the execution of any such certificate, financing statement, instrument, or other paper; and be it further Resolved thaj:thi�R �Gt � Authorized Signature Authorized Signature 717 17th Street, Suite 1850 Denver, Colorado 80202 shall take in full force upon and after its passage. •''� � '•t�Se, Mayor [42it� ir1,tedN ame "T arrieLnd, City Secreta �a�Ne •• ...••P ntoa Name T (800) 707-6242 clientservices@texasclass.com F (855) 848-9910 www.texasclass.com Page 4 Texas CLTexas Cooperative Liquid Assets Securities System Trust Exhibit D - Participation Certificate The undersigned City of Anna (the Local Government) does hereby request that it be admitted as a Participant pursuant to Section 2.3 of the Eighth Amended and Restated Trust Agreement (the Agreement) dated as of April 8, 2019, by and between the Participants, Wells Fargo Bank as Custodian, and Public Trust Advisors, LLC. By executing this Participation Certificate, the undersigned agrees that, upon the execution hereof by the Program Administrator, it will become subject to the same obligations and shall have the same rights as if it had executed the Agreement. The undersigned hereby certifies that Aian Guard (the Investment Officer) is the duly designated Representative of the undersigned as required by the Agreement. The undersigned hereby certifies that its governing body has taken all actions required by Section 2256.016 of the Public Funds Investment Act, Texas Government Code, for it to participate in the Trust created by the Agreement. rifiGriTiF1 Signature Z.� City Manager Title Accepted by Administrator (to be completed by Texas CLASS): Signature Date Title 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 5 was ClL �� Texas Cooperative Liquid Assets Securities System Trust Entity Information Entity Name (Participant) Entity Type: � City/Town Trust Registration of Anna ❑ Other (Specify) Mailing Address PO Box 776 Clty Anna Tax ID 1-75-1680420-4 The City of Anna portfolio: ❑ County ❑School District ❑Special District Zlp 75409-0776 County Collin Fiscal Year End Date (Month/Day) ❑ Texas CLASS ❑ Texas CLASS Government Q Both September 30 (the Local Government) hereby wishes to invest in the following Texas CLASS is hereby authorized to honor any telephoned, faxed, or electronic request believed to be authentic for withdrawal of funds. The withdrawal proceeds can be sent only to the banks) indicated below unless changed by written instructions. Each local government is responsible for notifying Texas CLASS of any changes to its account. Banking Information Bank Name Account Title Bank Contact ❑ Wire ❑ ACH ❑ Both Additional Banking Information (Optional) Bank Name Account Title Bank Routing Number (ABA) Account Number Contact's Phone Number Bank Routing Number (ABA) Account Number Bank Contact Contact's Phone Number ❑Wire ❑ACH ❑Both 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 6 was CLTexas Cooperative Liquid Assets Securities System Trust Authorized Contacts Representative and Authorized Signer ❑ Mr. ❑ Ms. Alan Guard Print First and Last Name Signature Required aguard@annatexas.gov Email Email Notifications ❑✓ Monthly Statements ETransaction Confirmations Additional Contact (Optional) ❑Mr Ms. Ryan Henderson Last Name 'y('Signature Required if Authorized Signer) rhendrson@annatexas.gov Email Permissions (must check one) DAuthorized Signer to Move Funds* ❑ Read -Only Access Additional Contact (Optional) ❑ Mr. ❑ Ms, Sheila Alexander Print First and Last Name *(Signature Required if Authorized Signer) Email Permissions (must check one) ❑Authorized Signer to Move Funds* F1Read-onlyAccess Finance Director Title 214-831-5371 Phone 972-924-2620 Fax Online Account 0 Online User Access Assistant City Manager Title 214-831-5303 Phone 972-924-2620 Fax Email Notifications Online Account OMonthly Statements OTransaction Confirmations Accounting Manager Title 214-831-5375 Phone 972-924-2620 Fa x Email Notifications OMonthly Statements ❑� Transaction Confirmations DOnline User Access Online Account ❑Online User Access 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 7 Texas CIL �� Texas Cooperative Liquid Assets Securities System Trust Authorized Contacts (cont.) Additional Contact (Optional) ❑ Mr. ❑ Ms. Print First and Last Name *(Signature Required if Authorized Signer) Email Permissions (must check one) ❑ Authorized Signer to Move Funds* ❑ Read -Only Access Additional Contact (Optional) ❑ Mr. ❑ Ms. Print First and Last Name *(Signature Required if Authorized Signer) Email Permissions (must check one) ❑ Authorized Signer to Move Funds* ❑ Read -Only Access Additional Contact (Optional) ❑ Mr. ❑Ms. Print First and Last Name *(Signature Required if Authorized Signer) Email Permissions (must check one) ❑Authorized Signer to Move Funds* ❑ Read -Only Access Title Phone Email Notifications ❑ Monthly Statements ❑ Transaction Confirmations Title f]it.7'i� f:Fi,7 Email Notifications ❑ Monthly Statements ❑ Transaction Confirmations Title Phone Fax Email Notifications ❑ Monthly Statements ❑ Transaction Confirmations Online Account ❑ Online User Access Online Account ❑ Online User Access Online Account ❑ Online User Access 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Texas CIAS Entity Name: City of Anna Texas Cooperative Liquid Assets Securities System Trust Accounts to be Established Texas CLASS Accounts Desired Subaccount Name(s)*: (To be completed by Participant) Operating Pooled Funds 2018 Bond Fund *Name must be limited to 30 characters. 717 17th Street, Suite 1850 Denver, Colorado 80202 Texas CLASS Government Accounts Desired Subaccount Names)*: (To be completed by Participant) T (800) 707-6242 F (855) 848-9910 Page 9 clientservices@texasclass.com www.texasclass.com Texas ClL �� Texas Cooperative Liquid Assets Securities System Trust How did you hear about Texas CLASS? ❑ Texas CLASS Representative: ❑ Referral by: Aian Guard ❑ Texas CLASS Website ❑ Email ❑ Google Search ❑ Other: 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 10