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Home My WebLink About06-09-16-2v - Resolution - 06/09/2016AMENDING RESOLUTION WHEREAS City of College Station -02103 ·�� (the "Government Entity") by authority of the Application for Participation in TexSTAR (the "Application") has e ntered into an In terlocal Agreement (the "Agreement") and ha s become a participant in the public funds investment pool created there under known as TexSTAR Short Term Asset Reserve Fund ("TexSTAR"); WHEREAS, the Application designated on one or more "Authorized Representatives" within the meaning of the Agreement; WHEREAS, the Government Entity now wishes to update and designate the following persons as the "Authorized Representatives" within the meaning of the Agreement; NOW, THEREFORE, BE IT RESOLVED: SECTION 1. The following officers, offi cials or employees of the Government Entity spe citied in this document are he reby designated as "Auth orized Representatives" within the meani ng of the Agreement, with full power and authority to open accounts, to deposit and withdraw funds, to agree to the terms for use of the website for online transactions, to designate other authorized representatives, and to take all other action required or permitted by Government Entity under the Agreement created by the application, all in the name and on behalf of the Government Entity. SECTION 2. This document supersedes and re places the Government Entity's previous designation of officers, officials or employees of the Government Entity as Authorized Representatives under the Agreement SECTION 3. This resolution will co ntinue in full fo rce and effect until amen ded or revoked by Government Entity and written notice of the am endment or revocation is delivered to the TEXSTAR Board. SECTION4. Terms used in this resolution have the meanings given to them by the Application. Authorized Representatives. Each of the following Participant officials is designated as Participant's Authorized Representative authorized to give notice s and in structions to the Board in accordance with the Agreement, the Bylaws, the Investment Policy, and the Operating Procedures: Title:City Manager Signatur .__. �---'�--_,,,.'-=--------Phone: (979)764-3510 2. Name: Jeffrey Kersten s;'"''"'•' \ �J � � 3. Name: Mary Ellen Leonard Signature: /LlJ._o �/;) , Email:ktemplin@cstx.gov 4. Name: Michael Dehav� Signature: ��--- Title:Assistant City Manager Phone: (979) 764-3555 Emailjkersten@cstx.gov Titletinance Director Phone: (979)764-3555 Email:mleonard@cstx.gov Title:Treasury Manager Phone: (979)764-38 52 Email:mdehaven@cstx.gov {REQUIRED} PRIMARY CONTACT: List the name of the Authorized Re presentative listed above that will be designated as the Pri mary Contact and will re ceive all TexSTAR co rrespondence including transaction confirmations and monthly statements Name: Michael Dehaven {OPTIONAL} INQUIRY ONLY CONTACT: In addition, the following additional Participant representative (not listed above) is designated as an Inquiry Only Representative authorized to obtain account information: Name: Brandi Whittenton Title: Finance Analyst �-------------- Signature: 'iOA lJ u.d.i, � Phone: _(9_7_9 _) _76_ 4_-_3 8_1_8 ________ _ Email:bwhittenton@cstx.gov Participant may designate other authorized representatives by written instrument signed by an exi sting Participant Authorized Representative or Participant's chief executive officer. DATED _______ _ *REQUIRED* City of College Station -02103 PLACE OFFICIAL SEAL OF ENTITY HERE (NAME OF PARTICIPANT) SIGNED B Y:�� ((inatUreOfOfficiai Nancy Berry, Mayor (Printed name and title) Anmeo•" � �� Sherry Mashburn, City Secretary (Printed name and title) FOR INTERNAL USE ONLY APPROVED AND ACCEPTED: TEXAS SHORT TERM ASSET RESERVE FUND AUTHORIZED SIGNER To: From: June 09, 2016 Consent Agenda Item TexSTAR Resolution Amending Authorized Representatives Kelly Templin, City Manager 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, Texas Short Term Asset Reserve ("TexSTAR"). Recommendation{ s): Staff recommends approval of the resolution. Summary: Organized in 2002, TexSTAR is the second largest local government investment pool in the State of Texas. TexSTAR currently provides investment services to over 600 Texas cities, counties, school districts and other public entities. TexSTAR offers investment options that provide security, liquidity and efficiency and their conservatively managed fund operates in full compliance with the Texas Public Funds Investment Act. TexSTAR's pool is rated AAAm by Standard & Poor's, the highest rating a local government investment pool can achieve. The pool seeks to maintain a $1.00 value per share as required by the Texas Public Funds Investment Act and a weighted average maturity of 60 days, with the maximum maturity of any investment limited to 13 months. TexSTAR 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. TexSTAR, like the City, is governed by the Texas Public Funds Investment Act. First Southwest oversees TexSTAR, and JP Morgan Fleming Asset Management manages the daily operations of the pool. 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 TexStar 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