RE 03-10-98.1 RESOLUTION NO. 031098.1
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COPPELL,
TEXAS, AUTHORIZING REPRESENTATIVES OF THE CITY OF COPPELL TO
INVEST, TRANSMIT, AND WITHDRAW FUNDS IN TEXAS LOCAL GOVERNMENT
INVESTMENT POOL ("TEXPOOL"); PROVIDING A REPEALING CLAUSE; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Coppell, Texas is a local government of the State of Texas and is
empowered to delegate to a public fund 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 City to invest local funds in investments that
provide for the preservation and sagety 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 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 COPPELL, TEXAS:
SECTION 1. That the individuals, whose signatures appear on this Resolution, are
authorized representatives of the City 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.
List of the authorized representatives of the City. These individuals will~/b.e'issued P.I.N numbers.
//
1. Jim Witt, City Manager Signature: ~
2. Jennifer Armstrong, Finance Director Signature:"
3. Chad Beach, Assistant Finance Director Signature: ~'~
Jennifer Armstrong, Finance Director will have primary responsibility for performing
transactions and receiving confirmations and monthly statements under the Participation
Agreement.
SECTION 2. That this Resolution and its authorization shall continue in full force and
effect until amended or repealed by the City, and until TexPool receives a copy of any such
amendment or revocation.
SECTION 3. That all provisions of any Resolution of the City of Coppell, Texas, in
conflict with the provisions of this Resolution be, and the same is hereby, repealed, and all other
provisions not in conflict with the provisions of this Resolution shall remain in full force and
effect.
SECTION 4. This Resolution shall become effective immediately from and after its
passage, as the law and charter in such cases provide.
DULY PASSED and approved by the City Council of the City of Coppell, Texas, on this
the /~)¢]~ day of /J?~r'C/I , 1998.
APPR~)VED: ~ /f
CANDY-S'I~E~q, MA O
ATTEST:
KATHLEEN ROACH, CITY SECRETARY
APPROVED AS TO FORM:
PETER G. SMITH, CITY ATTORNEY
(PGS/ttl 3/2/98)
2 ss16419