RES 1996-26TOWN OF TROPHY CLUB, TEXAS
RESOLUTION NO. 9 6 - 2 6
A RESOLUTION OF THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS APPROVING THE
ENTRY BY THE TOWN INTO A PARTICIPATION
AGREEMENT 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 Comptroller of the State of Texas, acting by and through the Texas
Treasury Safekeeping Trust Company (the "Trust Company"), has succeeded to the duties and
obligations of the State Treasurer relative to Texpool, a public funds investment pool, and the
Town desires to continue to use Texpool for investment of public funds.
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 revised
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 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:
1, Name: J
Signature
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2. Name: Donna elsh Title: Town Manager/Administrator
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Signature:
3. Name: Karen Sadri Title: Town Secretary
Signature:
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Section 4. This Resolution and its authorization shall continue in full force and 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 19th day of November , 1996.
ATTEST:
Town Secretary,
Town of Trophy Club, Texas
[SEAL]
APPROVED AS TO FORM:
Town t orney,
Town of Trophy Club, Texas
M
DOC #: 430428