HomeMy Public PortalAboutResolution No. 005-91 01-28-1991 RESOLUTION NO. 5-91
• A RESOLUTION OF THE CITY OF RICHLAND HILLS, TEXAS,
AUTHORIZING THE CITY TO ESTABLISH AN ACCOUNT IN
ITS NAME WITH THE TEXAS TREASURY SAFEKEEPING TRUST
COMPANY'S PUBLIC FUNDS INVESTMENT POOL, ALSO KNOWN
AS °TEXPOOL°, FOR THE INVESTMENT OF LOCAL FUNDS OF
THE CITY IN TEXPOOL AND AUTHORIZING CERTAIN
OFFICERS AND EMPLOYEES OF THE CITY TO TAKE
APPROPRIATE ACTIONS FOR THE INVESTMENT OF SUCH
CITY FUNDS IN TEXPOOL.
WHEREAS, the City of Richland Hills is an agency or
political subdivision of the State of Texas (the
"Participant") 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 in the best interest of the Participant and
its inhabitants to invest local funds in investments that
yield the highest possible rate of return while providing
necessary safekeeping and protection of the principal; and
WHEREAS, the Treasurer of the State of Texas acting by
and through the Texas Treasury Safekeeping Trust Company
• (the "Trust Company") has created "TexPool," a pubic funds
investment pool to effectuate the goals of providing
investments at the highest possible yield and maintaining
complete safety of the funds of the Participant,
NOW THEREFORE, be it resolved as follows:
1. That the City of Richland Hills, Texas, establish
an account in its name with the Trust Company's
Public Funds Investment Pool "TexPool" for the
purpose of transmitting local funds for investment
by the Trust Company in TexPool.
2. That the following individuals whose signatures
appear below are officers or employees of the
Participant and are each hereby authorized to
transmit funds to the Trust Company 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
Name: Stephen D. Hu hes Title City Manager
Signature
• Name: James R. Truitt Title Mayor
T-
• Signature
Name: P~ i e Kem e Title City Secretary
Signature
Name: Barbara Wright Title Accounting Clerk
Signature ~~J
3. That this Resolution and its authorization
shall continue in full force and effect until
amended or revoked by the Participant and until
the Trust Company receives a copy of any such
amendment or revocation, until such time the Trust
Company is entitled to rely on same.
This Resolution is hereby introduced and adopted by the
Participant at its regular/special meeting held on the
28th day of JANUARY , 1991.
C Y F RICHLAND HILLS, TEXAS
mes R. Truitt, Mayor
ATTEST:
Pauline Kempe, City Secretary
•