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HomeMy WebLinkAboutRes 14-2000laPsolution No.L t� Ca The State of Texas F Resolution : Authorizing Participation in TexPool and Designating County of Collin Authorized Representatives WHEREAS, the City of Anna (`Participant") is a local government of the State of Texas and is empowered to delegate to a public fiends investment pool the authority to invest funds and to act as custodian of investments purchased with local investment fiends; and WHEREAS, it is in the best interest of the Pa*�.icipant to invest local finds isn a investments that provide for the preservation and safety of principal, liquidity, and yield consistent with the Public Funds Investments Act; and WHEREAS, the Texas Local Government Investment Pool ("TexPool"), a public funds investment pool, was created on behalf of entitles whose investment objectives in order of priority are preservation and safety of principal, liquidity, and yield consistent with the Public Funds Investments Act NOW THEREFORE, be it resolves as follows: A. That Participant shall enter into a Participation Agreement to establish an account in its name in TexPool, for purpose of transmitting local funds for investment in TexPool. B. That the individuals, whose signatures appear in this Resolution, 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 to instruction, and to take all other actions deemed necessary or appropriate for investment of local funds. List of the authorized representatives of the Participant. These individuals will be issued P.I.N. numbers. 1. Name o NL�'Y N� Title 2. 3 Name Title Signature List the name of the Authorized Representative provided above that will have prinnany responsibility far performing transactions and receiving conf.*:nations and monthly statements under the Participation Agreement. Name KoNN�,4t, �. 77c'Rt,-t,'SoW ]in addition and at the option of the Participant, one addi*�or_al authorized representative can be designated to perform only inquiry of selected information. This limited representative cannot make deposits or withdrawals. If the Participant desires to designate a representative with inquiry rights only, Complete the following information. Name Tile Signature C. That this resolution and its authorization 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. Fhe foregoing resolution was passed and approved on this 15' day of December, 2000. AT'1�EST: Secreta�-y JUN-04-01 i ON 03:10 P11 TEXPOOL PART SVCS FAX NO, 214 953 8777 P, O1/10 date: .;use �, 2G�i : 2023�Nf Nua�3ber of S eets (3n�liida g 'I'ranSmitta.D Sbeet�; 10 City of Anna ,t t s ' a Representats 148&839�7665 We k214'9 Attached you will find all the enrollment documents that we reed from We also request a eoPy of your stMent policy along with the rnmosl r esent resolaation to show that it has beer review at it last annual meeting, if you have any questions please gig a me a call thanks, 17(Hl Pac:iGc (wcuuC o S�iita ] 300 = i)all�s, 'fexn: 752iS i-45l,2 � 1-RR$•834-1GGi o (� 1q) 953-4031 �9'AX (214; 95 �-y7?7 'UN-04-01 MON 03,10 PM TEXPOOL PART SVCS FAX NO. 214 953 8777 P. 02/10 E`k This pFlrtiCjj);iii6il agreement (Qle "Agr�er.7en t") is made and entered into by and between the; Safekeepili �;stt �',o1re'' of Public Accounts (the "Comptroller"), acting by and on khalf of the Texas Tre� 1 y omparly' ), 'fnistee of the Texas Local Government Investment Pooly(f xiIIco,)> allki ( r't1L1 uuA WI-IFIRL•AS, the InterlocaI Cooperation Act, TEX GOWT CODF A\nd, clt. 791 and Z'E, . �.— CU)E ANN. ch. 2256 (tile ",acts"' X cjo a govcri'Ment may dclen�te provjue for the creation of ptiblic funds investment pools to wllici: ary local y r� , by contract the authority to hold lccal title as custodian and to :::awe ih a7ly local nurclaasc d v itl: ]c Cal invesp;;ertt filn<is; WI-iE?:F;AS, ihe'I'ntst Company is a limited purpose trust company authorized ��r a rt Tr CUDr !t�?;. § 4�4.?U3 to receive, transfer and disburc,: money and securhies belonging to , `to aLX. �,O'v'T loc tl p01it3cal subdjvlslons of the state and for which the Comptroller is the sole officer, dire for and stC hare] ul��r W?IFREAS, Tcr,Pool is a Public funds investor invest,alents as rltore AIIIA c nt pool, which funds are invested ir, certai;t el,gible ,ucey uesLdbcdllereaficr; W]IGR2=AS; the Particij-r;tlrt has determined Ellat it is authorized under t?rc Acts aTu1 ct; o+_her arplicablc law u� enter intt� fl?js Agrcem3iand W;IIrIZEAS, in an effort to ensure the continual aviilabilify of an investment iooJ :ts a vehicle for 7 P,YESt',?:Cat cf local govcrumcnt funds and simultaneously provide for Potential enhancem o %#n IllisAial "I 'ses in management and administleative fees, Participant ad Trust Company lcsire� to provide and this Aglc%n:eut for Ilia Tntst Company to obtain professional private nkv�agement services ^ncUor a potential in ays-'glra�ent of tl;: Trust Company's manjgerial obligations relative to Texpool. Now l liErtEi i, for and in consideration of the mutual promises, eonvenants nitd agreenlcnts herein contajncd, the receipt and Sufficiency of which are ahereby acknowles follows: dged, the p lrties hcr�to ab=e e �,rith eaeii other PaEe 1 JL'N-DAH1 i10N 03,10 P;i TEXPOOL PART SVCS PAX NO 214 953 8777 P, C3!10 ARi7CF o 1. 1✓FINITI€ NS "Accoua3t" shall mean any accor2nt or accounts 2i1C1U 1231g Texl':.ol ill accordance with this Agreement andally SLccou b a22ts, estubiisl;ed by il7e Participant in the Operating Procc clura;.s (as defitled herein), repreeer2ts ar undivided beneficial ownership in TexPool. which account �aitis ��='a?xl Invest3reaais" shall mean those investments Which are atathorizcd b +t,� defined) f r inve8t2llent of public funiols. y • •� It.YeStti2C21i net (as herein "A_2lthtirires3 Rsprese�tatite(s) of the Farticip;ant" shall mean ally individual vr12o is at:;hori�ed to execute doct3anontc and take such other necessary actions tinder this Agreement as cvidca2ced b the Itesolu*tion Of the rarticip3nt. y Cully etl<3ctcdt "t§a3 tiaori[�fi Pepresetitative(s) of tic 'trust Cossip�iny" shall trsea a any einPloyce of ti2C i.Gniptt0lier Nlln IS tle:sig:,atcu iri Wipiting by tine Comptroller to act as the authorized l'nut Company re escrttative for 12urposcs of t13c Agrecine;nt and shall incltule employees of any private entity p y p� under this : grcerncnt. Y perform the oblipUos.s of the Comptroller "13osarri" shall mean the stivisozy board provided for in 112e investment Act (as defined below)* "Ilivestmz nt Act" snail mean the Pt)blic )'tu)cls Iuv; stt2te!2t net, 'l'EX. GOT? CORE P�'sl,'v'. Cit. 2�56, as nlentW From thoric to time. "Ir:Vz`staatar;t Palley" s41a11 mean the w -� r.tten TexPool tnvettment Frolicy> as amended fr0122 first( to ent tint(, reialtSlg to t!te i- mt ^•vest;nent ;swtd nagemetit of fititcls in Te:ct'ool as estttblicJ2ed by the Trust C'o2nl�atty consistent with ttheIitvcstirAct. 1✓ettcr Of Isastruefion" shall mean a written attthorizarion and tiircction to tlAe i2z)st Company signed by an Authorized Iicpresentativc of the Participant. " 0perating Procedures" shalt nican the written procedur;;s established by tl2e ', rust Cornpa,ly dLscr0, . nc� na32ages,2cnt a,d Operation of ?exl'oo1, and providing for the establishment of, deposits to and withdrawals frcan lie Accotults) as aritended from time to tinlC. "Paa•ticip;aai#" shad mean tiny entity authorized by the Acts to Participate in a vublic r.:ds invc�sii?2ct2t pool that has cxec223ed an �`,g�s ement Puruurnt to a Resolution. ), "13t:solu+ter•" shall rncan the resolution adopted by the governing bogy of a doc:al gover2:mcitta! aittity authorizing t12nt (.natty icipation in Texiool and deli 'natin ersons t P;2rticipai2t, b $ P o serve as Authorize(? P.eprescntaiivc.> of the Page 2 JUN-G4-Oi MON 03,11 PM TEXPOOL PART SUDS FAX N0, 214 953 8777 P, 04/10 SL'CtiT $" 2.02. Texl'OOl 13t t rued. AP.i srCl,ra Jig (a; TcxPucl i,>' a public funds investment pool ereatcd pursuant to the Acts. Subject to Section ei. 10, the Trust Company agrees to inanage the Participant's ACcount in accorda,tcc v✓ith the Invevtrnent Act and the Investment Policy, 5cctiott 2.®2. i8oarr)0 (a) 17te L'Oarcl is composed ui tncmbers appointed Ptta•suarlt to the requireincnts of th; Invcstratcnt Act. (t) fltc lioar(I shsii advise the Tnnst Company oil the Investment Policy and or. Various other,tratters affecting TLXPooI, and shall approve feu increases, Se:tior. 2.n3. T'eneT�l �it3ministt'ation. (7? The Tnztst Cornpatry shall establish and maintain the investment Policy specifically identifying tltc Autho;•i,cd Investments consistent with trite Investment Act and the general policy avid investnter,t goals for Tex Foal. lb) The Trost Company shut! establish :rnil maintain the Uoeratin Procedures, describ'n �; Op ration of TexPool and providing for procedures to be followed for flee esiablisl tins tlof� deposits to, a,;i! with !raxais oi;; ti7e ilccau;;ts anci such other matter. as are necessary ±O carry out tl;e intent of this F,grsrac,;t. (c) the [nest Company shall have the puv:er to take any action necessary to =7 out the purposes of this AgreeFrreltt SUD cct tt) a pp11Ca1)le la\l' att(1 tlrC ter;r:S Of tiie Rt�Tt��itiCltY. Sectlo,t 2,04, net s}tlp Interest. Each Patticipani_ shall own a.undivided beneticiai intirest in Pl e assets of i exPool iii a,t amount Proportional to the total amou,tt of such Participant's Accounts relative to the total amount Oft']) Participants' Accotmts in TexPool, coirpute(1 oil a daily oasis. Section 2.05. Independent Audit. TexPool is subject to annual review by at; in,l with the lirvestntent Act. In addition, reviews of TexPool n;a y be conducted b the o"dent truci,tor consistent the Irtcrnal u(litor of the Comptroller,,.; Office. The Trust Contpait may State Auditor's Office and by f-11ar•cis! or ether Pro' services as it dceins necessary or appropriate to assist obtain such legal' accounting, and objeclives. ! P TexPool in meeting its gods SQstitiui 2.()5. :.iaD}iiitd'• Any liability of the Cautptroller, the Con7ptroller'$ represc,rtativcs c: i,I efifs of the 'Trust Company, any Comptroller etnl1loyee, or any member o f tlic` Board f r an y loss, tlumngc or claim, including losses from investments and transfers, t full cxtutt allowuI b t fr o th Partici,"ant shall be limited to tiro y a lica}�te laws. The Trust Company's respcn.cibilities hercundcr arc lirttited Yo the managenrcnY aril investment of TexPool and the providing of reports anti inafOrttlation I%erci,t required, Page 3 JUN-04-01 MON 03111 ION T"XPOOL PART S11CS FAX P;0, 214 953 8777 P, 05/ 10 A�TiCI_,I IiI. 3�TI� IPA AI ON ssF_QUIPtla,M'r iti'TS Section? 3.09, The r'urticin36014 Agreement. The Participant must rsons provide a Resolution authorizing participation in Texl'uol al.d dexecute this Ag*teclnenl and esi3tlatin of the panicillant and any other documents as are required under, and substantially to serveinti e for,n presc bedlby l I c Operating Procedures before depositing any a i tds ns° Teal'°oi. Seciiti:i 3•t)�, f?fper$ting Procedures i1) The Participant acknowledge receipt of a copy of the O{ crating I'roccttw,re$ R I;e Cperltin describe ir, detrlii the procedures required for the establishment of accounts 10 b Proccdtares 1 eXPOOL and related Information, t wp°sltS to and Withdriawals from {b; T!ac Operating Procedures may be modified by tile Trust Company as ;Ipproprtate ±o ren;ain consistrm with ffico cric ti banking practice; and capabilities and whets such modification is decn?ed n: essary to improve the orcraYion of TexPool. {c) The Participant herby concurs with and agrees to abide by the viler sing procedures. AIdTICi.i 1 V. T VESTMENTS Srz#ioa; q.fll, Invrstlracllts. All monies held in TexPool shall be invested and reirvcsteil or A.uthcrized Itet,resentativcs of the Trust CotnPany only in Authorized Investments i,a�actwe ie Trust CompIlle n Abree,ncni, the lnvestnncnt Policy and the Tt?vestment Act. Participant hereby conct:rs with anly such investment so llpade by tl?e Trost Company, TexI'ool's available funds that arc uninvested may be ltelti at tl?c Trust C:ottpany's . ccount at the rederal Reservc Bank of Dallas ot• any designated cnstodia,; assets t at collateral will be in the possession of the 7'nist Company and held in its c`0`II?t. Ali investment account at the Federal keserve Bank or any designated custodian account. book-cntry safekeeping Seeti°n q,07, I ailed Investzrlcnt Transaction. II? the extrnordin;ary event that a purchase of securities results in a railed settle„?CtiY any resulting uninvested funds shall remain in the Trust Company"s 1 edcral Bark of DI account or ally designated custodian account_ If an alternative investment can be secured after tI?e failure athe trade to settle TrxPori will receive all the income earnings, including but not limited to, any cotnpcnsation front the purcl?;Iscr failing in the trade and the interest income from the alternative investment. Section 4.03. Investment h;arnings and Losses Allocution. All interest earnings in TexPool will t e val?icd daily and credited to the Participant's Accounts monthly, on a pro rats allocation basis, All losses, if any resulting Isom the it?vcstirient of Inonics in TexPool shall also be illoc,)tcsl on a pro rasa allocaliol? basis, hI1 accounting and cudlosur will be allocated to the Participant's Accounts in tccordat?ce with g ncrnl!y accepted :tL`COtlntin� pl'OCCdUrLS. defti:;il 4.j Commingling of Accounts . Pyticipant agrees that monies de�ositeu in TexPool nla con?Iringled with ail other monies held ill TexPool for purposes of I y be eft:ciet?cy. However each Particip;lnr will have separate Accounts on the books and recorde Allid of TexPool Operational fun4li�r pre>vidctl for the OPettting Procedures. Page 4 JUN-04-01 MON 030'11 PM TEXPOOL PART SVCS FAX NO, 214 953 8777 P, 06/ 10 'ES) EX-PENSES AND REPORTS Beetle}t 5.^[. I`ecs and Expenses, The pat icipant agrees to nav th4 aniount s:N't fort!l iij tl}e fee schedule. Aar'•icipa , agrees that all fees shati be directly and auto}}�}atically assessed and charges; against t1}e Participant's Accou ts. TRe basic service fee shall be calculates] as a retluctioll in tits daily it}co,nc camed> thus only the net z"ec:n; sh:;ll he crusdited to the Participant's Account. Fees for special services shall be charged to each Pc}trttc,pa is C UeUiil}i as they are incurred or performed. A schedule of fees shall be provided to Z'r I'arto each an�� dale. Each Faiticipant will be notified thirty (30) days prior to the effective date of a;iy cl3ange in the fee schs duL. Sectaara .5.02. f cpnrts9 A fnVIA I y statement will be }nailed to the participant within the first five (5) business c?ays of rile succeeding month. The monthly statement sha11 include a detailed Listing of the balance in the 1'araiciparst's Accounts as of the date of the statement; all account activity, inclt:dditg deposits and withdrawals; the daily ars1 tnoathly yield information; and 113y special fees and cx erases char= Aartic:ra,lt's reports in physical or computer form will be maintained for a mite m„ Adcattrn}alcy, copies of the e111 r ti o:•ri sls sh;}Il be available for inspection at till reasonable Hours of the businc s of three P Or fiscal yeani. di:y and under reasonable Cl�ndltlU7}S, Scctiot} 5•t13, Cottfidctttialaty.Tn}st Company and any nriVate entity acting on behalf of the TtusT ontpany for purposes of this Agreement will maintain the confidentiality of the Aa ;icil,aat's Accounts, subject to tl;e PA%blic Information Act, TEX GOV'T CODE' ANN, ch, 552, as amended. i4�TSC� I.LANEUI:JS� Sectinn G.%!• i'toticcs. Auy notices, Letters of Instn}ctions or other information required or permitted to be given 1:creunder `hall be submitted in writing and shall be deemed dal urea Postage prrpaid or successfully trans}»ittect via facsimile addressed to the when deposited in fihc U.S. t}�ail e par its as fol,owSA To the Participant: Participant N Address: _ City, 'State, Zi Telephone: G Fax: To Trust `,jrxpvny with respect to contractual a}titters of disputes under this Agres;n}ent: Texas Treasury Safciceeq}ing Trust Company Ari;,; TcxPool P,O. Boa 12608 Austin, TX 78711-2608 relcpholic: (512) 453-2950 P AX No.: (512) 4G3-0823 To 7'c�zt'c0; with respect to operational matters, including enrolltns;nt docusnerts; dmnges tc l:c}}resent;;rives; ?3at}k lnfotmation Sheets; initiation of deposits or withdrawals of funds; adc!res.ccs; at�dit eonilrmation requests; and account inquiry: Texl'ool Participant Services 1'agC Authoriz;;d cI}:�ngcs to JUN-04-01 MON 03'12 PM TEXPOOL PART SVCS FAX NO, 214 953 8777 P. 07/10 First Soutiawest Asset Management, Inc. 1700 Pacific Avenue, Suite 1300 Dallas, TX 75201 ;652 Telephone: 1-888439-7665 or (214) 9534064 FAX Tti'ra.: (214) 953-8777 1'he Participant and ttae Trust Company agree to notify the other of 11ly change eCf ctiiag dais ;morn?ation and ao ee that ;:;ales and until su notified, the other party shall be entitled to rely or, sae last information provider!. Section 6.02. payer ldentifi atioxt Nurnber. The P icipant's taxpayer identification number a.;signed by the Internal Reveatue Service is: t Company of ati chanog y �Z The Pn rticapant hereby agrees to notify tlac Trust y ae affecting this�Taxpayer dden lfrcation uutmbcr and agrees that unless and until so rtotities, the Trust Company shall be entitled to rely on same in providing any ar;d all reports necessary or required by the Fcdcral tax laws as amended from time to time, nr other information Section 6.03. Severability. 1f any provision of this Agreement shall be held or deemed to be in fact illegal 13o1>erative or unenforceable, the sarnc sha11 slot affect ally other provision or provisions bcrein contained or render the sar e invalid inol3erative or unenforceahle to arty extent whatsoever. Section 6.04. Execution of Counterparts. This Agr-een;ent naay be simultaneously counterparts, each of which shall be an original and all ofwhich shall imultan oust} executed ill several separate e I'U one and the same instrument. Ssclivat .5.0$. Applicably I.3w. This Agreement shall bc: governcd:by anti construcd in accordance will, the laws of die State of'fexa,. Vc,tue for any dispute under this Agreement stall be in Travis County, Texas, Section 6.06, Captions The captions or headings in this Agreement are for coravenicnec onl and in L`clined, limit or describe the scope or intent of any frrovibions, y no wayarticles or sections of this „grceancnt. Section 6*07. Atnendrnents. (a; The '1•rust Corn ill shall advise tlae Participant in writing of any anaeudmcnts to this Agt•cernent no less than Of Of day, prior to the effective date of Such amendment- The Participantay ratify the naproposed atmcndmA this �,giLement by letter to the Trust Cornparay- In the Fvent the Participant aanenchrcnt, the Participant 'Illy terminate this Agreement in accordance with Section G.08. la01 in the event the ratify tile Participant fails to respond in writing to a notice of amendrment prior to the effective date of such atnLndn;ent, this Agreement shall be deemed aaner,ded. (h) The Trust Cornpar,y may periodically revise the taperating procedures fro„a ti necessary for the effieitnt operation of `I exrool. The Participant will i be bound b eta tuae as it deems Operating Prot;dt,res ,with respect to any transaction occurring subsequent to the tine sucla� aaacr,dn;enillicadirlent ttaklcs eCCcet, provided, however, Thai no such atmentiament shall Par affect the Participatat's right to cease to be a t;cipant. Sectir3„ 6.08. Terminatian, This Ab7ecment may be te:,ninatcd by either p,•at•ty laercto, with or without c;:usc, by tendering 30 Hayti prior written notice in dae,manrer set forth }„ Section 6.:71 hereof ect elle c otn e Term. na. Unless terminated in accordance with Section 6.08, this Agreement shall be automatically neaewcd or, each anniversary date hereof. JUN-04-01 MON 03112 PM T`XPOOL PART SUCS FRX NO, 214 953 8777 P, 08/10 St'etian U.M. Assil;nment. The Trust C'otnpany rrtay enter into an agreement with a bird party in n;anager to perform; its obligations and service under this Agreement, provided that $uch third party it;vcsUnent manager shall manage T'exPool according to the Investment Act, Investment Policy and ill a manner ccttsistent wilt that directed by the TIuSt Company. The Tnist Company also shall have tl;e right to ;tssi��t; its rights and obligatio,:s under tl;e Agreement to a third party investment inanager if the Trust Coanpat;y determines that such assignment is in the best interest of the State and Participants. In the evct;t a successor pool to TcxPool is deettted'NY the Trust Company to be itt the best interest of he State and the Partic take sny action it deems necessary to assign its rights ipat:t, the 'Trust Company may le assets from TexPool to any successor pool, and benefits under any third navy agreements and transfer fi 1<n WatnPss Whereof, the parties l;ercto have caused this Agreement to he executed as of the dates set forth below, and the Agreement shall be effective as of tl,e latest such date. P'rj+kTPC:IPA d'T TLAAS TtRFASURY S:A FEKEEfi'i N(3 TRUST COPYiP ANY Comptroller of Prtblic Accounts O�� �.gttat n c: 13rintcd Name: _ f� Obi Pd-� ��XG(KoA% Printed Na:ne:----�� ��� Title:Date: .hu La)' Date: — —, C�:RTII: Pt':ATI: ®E INP;i1�I�I;NCY ?•he preceding signatory is a duly appointed, actrrg, and gll:llli-led of(iCer (,;the P3iiicil);urt, who, in tJte capacity set forth above; is authorized to execute this Agrcement. IN WITNESS WHEREOF, I leave duly executed this certificate as of the of 20D__l. ---(lay Signature: Nagle: _ m R II E e%f��J < �� Pabc 'I JUN-04-01 MON 03'13 PM TEXPOOL FART S'JOS FAX NO. 214 953 8777 P• 10/10 list oftl,c authorized rcprescnt,at;vcs of the PtIrticipsnt. Th2sc vidusls will be issucrf p,P.N• nu»>bers- i • Name Title Signature 2. i`iilltc Title Signature 3. Name Title signature I..ist the name aC the Authorized Itcprescntative provided alzove that cvi[� have pz-irna:y res ota;ibiPit perloratttnb transzzetions and receiving Cortrrznations and monthly statements under ih Participation Agreement, p y .or Nagle: In addition and at the option of the Participant, onc idd;tional rauthorized representative can be deli �uated t perfitrz: only inquiry of seiectcd inform;atia,. 7'l�is linaitcd repz-esraiiative Cannot make deposits or withdrawals. J the Participant desires to designate a representative with inquiry zigi,ts only, Complete the following infor iw ao•, f �. Nagle f --_ Title Signature C• That this res��hatioai end its atatlaorizatiota sJ,ali continue in full force sand effect until an2eniied or revoked by tl Participant, end until TexPool receives a copy of ttnv such amendment or revocation. y tL This resalitt;oa: is hereby intrOiuced end adopicd by the I'articinant at its regularlsp cial meeting he,d on tlac day , 20 MA!h9r OF 3'AR"Y'It'dPA1VT THY: Signature Priate� Name ATTEST SiguNturc .Mated C t;3�'�'ICJAi; SFyAi.