RES 2014-14 TOWN OF TROPHY CLUB, TEXAS
RESOLUTION NO. 2014-14
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TROPHY
CLUB, TEXAS, APPROVING AND AUTHORIZING EXECUTION OF AN
INTERLOCAL AGREEMENT FOR PARTICIPATION IN A PUBLIC
FUNDS INVESTMENT COOPERATIVE (THE "COOPERATIVE"),
DESIGNATING THE BOARD OF DIRECTORS OF THE COOPERATIVE
AS AN AGENCY AND INSTRUMENTALITY TO SUPERVISE THE
COOPERATIVE, APPROVING INVESTMENT POLICIES OF THE
COOPERATIVE, APPOINTING AUTHORIZED REPRESENTATIVES
AND DESIGNATING INVESTMENT OFFICERS.
WHEREAS, the Interlocal Cooperation Act, Chapter 791 of the Texas
Government Code, as amended (the "Interlocal Act"), permits any "local government" to
contract with one or more other "local governments" to perform "governmental functions
and services," including investment of public funds (as such phrases are defined in the
Interlocal Act);
WHEREAS, the Interlocal Act authorizes the contracting parties to any interlocal
agreement to contract with agencies of the State of Texas, within the meaning of
Chapter 771 of the Government Code,
WHEREAS, the Act permits the contracting parties to any interlocal agreement to
create an administrative agency to supervise the performance of such interlocal
agreement and to employ personnel and engage in other administrative activities and
provide other administrative services necessary to execute the terms of such interlocal
agreement;
WHEREAS, the Public Funds Investment Act, Chapter 2256 of the Texas
Government Code, as amended (the "PFIA"), authorizes the entities described in
Subsection (a) of the PFIA to invest their funds in an eligible public funds investment
pool, and the Local Government Investment Cooperative intends to become and remain
an eligible public funds investment pool, under the terms and conditions set forth in
PFIA;
WHEREAS, Town of Trophy Club (the "Government Entity") desires to enter into
that certain Interlocal Agreement (the "Agreement"), a copy of which is presented with
this Resolution and is incorporated herein by reference, and to become a participant in
a public funds investment pool created there under and under PFIA, to be known as
Local Government Investment Cooperative (the "Cooperative");
WHEREAS, the Government Entity is a Government Entity as defined in the
Agreement; and
WHEREAS, the Government Entity desires to cause administration of the
Cooperative to be performed by a board of directors (the "Board"), which shall be an
administrative agency created under the Interlocal Act; and
WHEREAS, the Government Entity desires to designate the Board as its agency
and instrumentality with authority to supervise performance of the agreement, employ
personnel and engage in other administrative activities and provide other administrative
services necessary to execute the terms of the Agreement;
WHEREAS, each capitalized term used in this Resolution and not otherwise
defined has the same meaning assigned to it in the Agreement;
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
TROPHY CLUB, TEXAS:
Section 1. The Agreement is hereby approved and adopted and, upon
execution thereof by an Authorized Representative (defined below) and receipt of the
Government Entity's application to join the Cooperative by the Administrator, the
Government Entity shall become a Participant in the Cooperative for the purpose of
investing its available funds therein from time to time in accordance with its terms.
Section 2. The Board is hereby designated as an agency and instrumentality
of the Government Entity, and the Board shall have the authority to supervise
performance of the Agreement and the Cooperative, employ personnel and engage in
other administrative activities and provide other administrative services necessary to
execute the terms of the Agreement.
Section 3. The investment policies of the Cooperative, as set forth in the
document entitled Investment Policies, as summarized in the Information Statement,
and as may be amended from time to time by the Board, are hereby adopted as
investment policies of the Government Entity with respect to money invested in the
Cooperative, and any existing investment policies of the Government Entity in conflict
therewith shall not apply to investments in the Cooperative.
Section 4. The following officers, officials or employees of the Government
Entity are hereby designated as "Authorized Representatives" within the meaning of the
Agreement, with full power and authority to: execute the Agreement, an application to
join the Cooperative and any other documents required to become a Participant; deposit
money to and withdraw money from the Government Entity's Cooperative account from
time to time in accordance with the Agreement and the Information Statement; to agree
to the terms for use of the website for online transactions and take all other actions
deemed necessary or appropriate for the investment of funds of the Government Entity:
1. Name: Steven Glickman Title: Director of Finance
Signature: 4.
Phone: 682-831-4616
Email: sglickman(a�trophyclub.orq
2. Name: Stephen Seidel Title: Assistant Town Manager
Signature: ,11°9- Phone: 682-831-4606
Email: sseideltrophyclub.org
In accordance with Cooperative procedures, an Authorized Representative shall
promptly notify the Cooperative in writing of any changes in who is serving as
Authorized Representatives.
Section 5. {Required} List the name of the Authorized Representative listed
above that will be designated as the Primary Contact and will receive all LOGIC
correspondence including transaction confirmations and monthly statements
Name: Steven Glickman
Section 6. {Optional} In addition, the following additional Participant
representative (not listed above) is designated as an Inquiry Only Representative
authorized to obtain account information:
3. Name: April Ezell Title: Chief Financial Analyst
Signature: Phone: 682-831-4617
Email: aezeWtrophyclub.org
Applicant may designate other authorized representatives by written instrument signed
by an existing Applicant Authorized Representative or Applicant's chief executive
officer.
Section 7. {Required} Taxpayer Identification Number.
Applicant's ta"payer identification number is 75-2047474.
Section 8. {Required} Contact Information.
Applicant primary mailing address:
Town of Trophy Club
100 Municipal Drive
Trophy Club, TX 76262
Applicant physical address (if different):
Town of Trophy Club
100 Municipal Drive
Trophy Club, TX 76262
Applicant main phone number:
682-831-4600
Applicants main fax number:
817-491-9312
In addition to the foregoing Authorized Representatives, each Investment Officer of the
Cooperative appointed by the Board from time to time is hereby designated as an
investment officer of the Government Entity and, as such, shall have responsibility for
investing the share of Cooperative assets representing funds of the Government Entity.
Each depository and custodian appointed by the Board from time to time are hereby
designated as a depository and custodian of the Government Entity for purposes of
holding the share of Cooperative assets representing funds of the Government Entity.
PASSED AND APPROVED by the Town Council of the Town of Trophy Club, Texas, on this
5th day of May, 2014.
0 „0421:4,
p " C onnie White, Mayor
* 0‘ w Town of Trophy Club, Texas
A ' T: v9'L441FP(
Nc3 APPROVED AS TO FORM:
T y Argil, Town Secretary Patricia A. Adams, Town Attorney
Town of TroOly Club, Texas Town of Trophy Club, Texas
EXHIBIT A
LOGIC Enrollment Packet 2014