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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 By: c k..-¡ ~..- -' A=: 9~~ /Z<<<J