RES 1993-20TOWN OF TROPHY CLUB, TEXAS
RESOLUTION NO. 9-�-?A
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN
OF TROPHY CLUB, TEXAS APPROVING THE ENTRY BY
THE TOWN INTO A PARTICIPATION AGREEMENT
ESTABLISHED BY THE TEXAS TREASURY SAFEKEEPING
TRUST COMPANY FOR INVESTMENT OF THE TOWN'S
FUNDS IN "TEXPOOL", A PUBLIC FUNDS INVESTMENT
POOL; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Town of Trophy Club, Texas (the "Town") is a
political subdivision of the State of Texas and is empowered to
delegate to a public fund investment pool the authority to invest
funds, to act as custodian of investments purchased with local
investment funds; and
WHEREAS, it is in the best interest of the Town and its
inhabitants to invest local funds in investments that yield the
highest possible rate of return, while providing necessary
safekeeping and protection of 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 public funds investment pool, to
effectuate the goals of providing investments at the highest
possible yield and maintaining complete safety of the funds of the
Town.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN
OF TROPHY CLUB, TEXAS:
Section 1. That the above and foregoing preamble is true and
correct and is incorporate herein as if copied herein in its
entirety.
Section 2. That the Town of Trophy Club, Texas shall enter
into a Participation Agreement to establish an account in its name
with the Trust Company's Local Government Investment Pool
("TexPool"), for the purpose of transmitting local funds for
investment by the Trust Company in TexPool.
Section 3. That the following individuals, whose signatures
appear below, are officers, employees or authorized representatives
of the Town and re each hereby authorized to transmit funds to the
Trust Company for investment in TexPool and are each further
authorized to withdraw funds form time to time, to issue letters of
instruction, and to take all other actions deemed necessary or
appropriate for the investment of local funds:
1. Name: sit Title: _Ma �,)r
signaturi�:-
2. Name: Donna AJpish Title: Town ManaQL-r,/Admjnj,-,frator
signature:
3. Name: Karen Sadri Title: Town Serretar34
Signature:
Section 3. This Resolution and its authorization shall
continue in full force an effect and until the Trust Company
receives a copy of any such amendment or revocation, or three days
following such amendment or revocation, whichever is earlier. The
Trust Company is entitled to rely on this resolution until such
time.
PASSED AND APPROVED by the Town Council of the Town of Trophy
Club, Texas this the --nth— day of nprember 1 1993 .
Mayor, Town of Trophy Club, Texas
ATTEST*.
Town Secretary,
Town of Trophy Club, Texas
[SEAL]
APPROVED AS TO FORM:
own A torney,
Town of Trophy Club, Texas