HomeMy WebLinkAbout06-09-16-2u - Resolution - 06/09/2016 uerxio
Resolution Amending
Authorized Representatives
TEXPOOL
AN INVESTMENT SERVICE FOR PUBLIC FUNDS
062 09-i6
Please use this form to amend or designate Authorized Representatives.
This document supersedes all prior Authorized Representative forms.
*Required Fields
1.Resolution
WHEREAS,
City of College Station I 17 17 11 18 11 I
Participant Name* Location Number*
("Participant")is a local government of the State of Texas 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 is in the best interest of the Participant to invest local funds in investments that provide for the preservation and safety of principal,
liquidity,and yield consistent with the Public Funds Investment Act;and
WHEREAS,the Texas Local Government Investment Pool("TexPool/Texpool Prime"),a public funds investment pool,were created on behalf of
entities whose investment objective in order of priority are preservation and safety of principal,liquidity,and yield consistent with the Public Funds
Investment Act.
NOW THEREFORE,be it resolved as follows:
A. 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/TexPool Prime 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.
B. That an Authorized Representative of the Participant may be deleted by a written instrument signed by two remaining Authorized
Representatives provided that the deleted Authorized Representative(1)is assigned job duties that no longer require access to the Participant's
TexPool/TexPool Prime account or(2)is no longer employed by the Participant;and
C. That the Participant may by Amending Resolution signed by the Participant add an Authorized Representative provided the additional
Authorized Representative is an officer,employee,or agent of the Participant;
List the Authorized Representative(s)of the Participant.Any new individuals will be issued personal identification numbers to transact business with
TexPool Participant Services.
1.I Ke1Iy Templ1n
Name
I City Manager
Title
I(979)7 - 10/(979)764-6377/ktemplin@cstx.gov I
PhonefFa ail pi
Signature �JM�
2.1 Jeffrey Kersten I
Name
I Assistant City Manager
Title
(979)764-3555/(979)764-3899/jkersten@cstx.gov
Phone/ ax/Email
Signatu VJ
FORM CONTINUES ON NEXT PAGE 1 OF 2
1.Resolution(continued)
3.I Mary Ellen Leonard
Name
I Finance Director
Title
1(979)764-3555/(979)764-3571 /rnleonard@cstx.gov
Phone/Fax/Email
Signetre
4•(-Michael Dehaven
Name
[Treasury Manager
Title
(979)764-3852/(979)764-3 71 /rnclehaven@cstx.gov
Phon /Fax/ mail
Signature
List the name of the Authorized Representative listed above that will have primary responsibility for performing transactions and receiving confirmations
and monthly statements under the Participation Agreement.
[Michael Dehaven I
Name
In addition and at the option of the Participant,one additional Authorized Representative can be designated to perform only inquiry of selected
information.This limited representative cannot perform transactions.If the Participant desires to designate a representative with inquiry rights only,
complete the following information.
1 Brandi Whittenton
Name
I Finance Analyst I
Title
1(979)764-3814/(979)764-3571 /bwhittenton@cstx.gov I
Phone/Fax/Email
D. That this Resolution and its authorization shall continue in full force and effect until amended or revoked by the Participant,and until TexPool
Participant Services receives a copy of any such amendment or revocation.This Resolution is hereby introduced and adopted by the Participant
at its regular/special meeting held on the day ,20
Note:Document Is to be signed by your Board President,Mayor or County Judge and attested by your Board Secretary,City Secretary or
County Clerk.
[City of College Station I
Name of Participant*
SIGNED ATTE
Signature* Signature*
Nancy Berry I I Sherry Mashburn
Printed Name* Printed Name*
I Mayor [ I City Secretary
Title* Title*
2.Mailing Instructions
The completed Resolution Amending Authorized Representatives can be faxed to TexPool Participant Services at 1-866-839-3291,or mailed to:
TexPool Participant Services
1001 Texas Avenue,Suite 1400
Houston,TX 77002
ORIGINAL SIGNATURE AND DOCUMENT REQUIRED TEX-REP 2 OF 2
TexPool Participant Services Managed and Federated
1001 Texas Avenue,Suite 1400 • Houston,TX 77002 Serviced by
Phone:1-866-TEXPOOL(839-7665) • Fax:1-866-839-3291 • www.texpool.com 045340-17(7/15)
June 9, 2016
Consent Agenda Item
TexPool Resolution Amending Authorized Representatives
To: Kelly Templin, City Manager
From: Jeff Kersten, Assistant City Manager
Agenda Caption: Presentation, possible action and discussion on a resolution amending
the authorized representatives on the local government pool account, TexPool.
Recommendation(s): Staff recommends approval of the resolution.
Summary: Organized in 1989, TexPool is the largest and oldest local government
investment pool in the State of Texas. TexPool currently provides investment services to
over 1,700 communities throughout Texas. The State Comptroller oversees TexPool, and
Federated Investors manage the daily operations of the pool under a contract with the
Comptroller. TexPool is managed conservatively to provide a safe, efficient, and liquid
investment alternative to Texas governments. The pool seeks to maintain a $1.00 value per
share as required by the Texas Public Funds Investment Act. TexPool investments consist
exclusively of U. S. Government securities, repurchase agreements collateralized by U. S.
Government securities, and AAA-rated no-load money market mutual funds. TexPool is
rated AAAm by Standard & Poor's, the highest rating a local government investment pool
can achieve. The weighted average maturity of the pool cannot exceed 60 days, with the
maximum maturity of any investment limited to 13 months. TexPool, like the City, is
governed by the Texas Public Funds Investment Act.
The resolution amendment is to add Treasury Manager, Michael Dehaven as an authorized
representative.Kelly Templin, City Manager, Jeff Kersten, Assistant City Manager, Mary Ellen
Leonard, Finance Director will remain on the account as designate employees that are able
to authorize transactions for the City's TexPool account. Brandi Whittenton, Finance Analyst
will remain as inquiry only contact authorize representative.
Budget & Financial Summary: None
Reviewed and Approved by Legal: Yes
Attachments:
1. Resolution Amending Authorized Representatives