HomeMy WebLinkAboutResolution 1990-004
RESOLUTION NO. 90-04
WHEREAS, the City of North Richland Hills is an agency or
political subdivision of the State of Texas (the "Participant") 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 and its
inhabitants to invest local funds in investments that yield the highest
possible rate of return while providing necessary safekeeping and protection
of the principal; and
WHEREAS, the Treasurer of the State of Texas acting by and through
the Texas Treasury Safekeeping Trust Company (the "Trust Canpany") has
created "TexPool", a public funds investment pool to effectuate the goals of
providing investments at the highest possible yield and maintaining complete
safety of the funds of the Participant,
NOW THEREFORE, be it resolved as follows:
1. That the City of North Richland Hills establish an
account in its name with the Trust Company's Public FUnds
Investment Pool "TexPool" for the purpose of transmitting
local funds for investment by the Trust Canpany in TexPool.
2. That the following individuals whose signatures appear
below are officers or employees of the Participant and are
each hereby authorized to transmit funds to the Trust Canpany
for investment in TE'..xpool and are each further authorized to
withdraw funds fram time to time, to issue letters of
instruction, and to take all other actions deemed necessary
or appropriate for the investment of local funds:
Name: Lee Maness Title: Director of Finance
Signature: ~ ~~
Name: Jim Cook Title: Asst. Director of Finance
Signature: ~/ ~~G
Name: Camelia Fisher Title: Senior Staff Accountant
Signature: ~L~ ,~
3. That this Resolution and its authorization shall continue
in full force and effect until amended or revoked by the
Participant and until the Trust Company receives a copy of
any such amendment or revocation, until such time the Trust
Canpany is entitled to rely on same.
This Resolution is hereby introduced and adopted by the
Participant at its regular meeting held on the 23rd day of January, 1990.
CITY OF NORI'H RICHI.J.\ND HIILS
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