HomeMy WebLinkAboutRES 02-181 RESOLUTION NO. 02-181
WHEREAS, City of Beaumont ("Participant") is a local government of the State of
Texas and is empowered to delegate to a public funds investment pool the authority to
investfunds 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"), a public
funds investment pool, was 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
BY THE CITY COUNCIL OF THE CITY OF BEAUMONT:
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 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;
THAT an authorized Representative of the Participant may be deleted by a written
instrument signed by all remaining Authorized Representatives provided that the deleted
Authorized Representative (1) is assigned job duties that no longer require access to the
Participant's TexPool account or (2) is no longer employed by the Participant; and
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;
Kyle Hayes, City Man ger
(409)880-3708
Cti�,
Kandy Daniel,treasurer
(409)880-3773
THAT the following Authorized Representative will have primary responsibility for
performing transactions and receiving confirmations and monthly statements under the
Participation Agreement:
Kandy Daniel
Email: kdaniel _ci.beaumont.tx.us
THAT one additional Authorized Representative is designated to perform only
inquiry of selected information and cannot make deposits or withdrawals:
Nada Rogers
Deputy Treasurer
THAT this Resolution and its authorization shall continue in full force and effect until
amended or revoked by the Participant, and until TexPool receives a copy of any such
amendment or revocation.
PASSED BY THE CITY COUNCIL of the City of Beaumont on this the 6' day of
August, 2002.
G
- Mayor velyn M. Lord -