HomeMy WebLinkAboutResolution 2013-005 RESOLUTION NO. 2013 -005
WHEREAS, the City of North Richland Hills ( "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 TexasTERM Local Government Investment Pool ( "TexasTERM "), a
public funds investment pool, was created on behalf of entities whose
investment objectives 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 NORTH
RICHLAND HILLS, TEXAS, THAT:
SECTION 1.
"A. That Participant shall enter into a Participation Agreement to establish an
account in its name in TexasTERM, for the purpose of transmitting local funds for
investment in TexasTERM.
B. The Participant shall designate one or more individuals to act as "Authorized
Representatives" of the Participant, in the manner provided in the form attached
to this Participation Agreement, to transmit funds for investment in the Pool and
to withdraw funds from the Pool from time to time, to issue letters of instruction,
and take such other actions deemed necessary or appropriate for the investment
of local funds.
C. That this Resolution and its authorization shall continue in full force and effect
until amended or revoked by the Participant, and until TexasTERM receives a
copy of any such amendment or revocation.
PASSED AND APPROVED on this 11th day of February, 2013.
CITY NOR H RICH ND HILLS
By:
Os revino ayor
Resolution No. 2013 -005
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J� 1
Gfi l� --
��itricia Itson,'�ty Secretary
a;
AID S T ORM AND LEGALITY:
George A. Staples, City Attorney
APPROVED AS TO CONTENT:
Larry Ko ce, Finance Director
Resolution No. 2013 -005
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