RE 2017-0912.2Texas
CL�S�
Resolution No.
2017-0912.2
Resolution to Participate
WHEREAS, the Public Funds Investment Act, Texas Government Code, Section 2256.001 et seq.
(the "Act"), requires the governing body of each local government in this State to adopt investment
policies in accordance with the terms of the Act; and
WHEREAS, pursuant to the requirements of the Act, the City Council (the "Governing Body's of
the City of Coppell (the "Local Government") has previously reviewed and adopted
an investment policy (the "Policy") that provides in part that the funds of the local government will be
invested in investments permitted by the Act in order to: (I) invest only in investments legally permitted
under Texas law; (ii) minimize risk by managing portfolio investments so as to preserve principal and
maintain a stable asset value; (iii) manage portfolio investments to ensure that cash will be available as
required to finance operations; and (iv) maximize current income to the degree consistent with legality,
safety and liquidity; and
WHEREAS, pursuant to the Policy and the Act, the Local Government has appointed
Jennifer Miller, Director of Finance (the "Investment Officer") to act as the investment officer of the
Local Government; and
WHEREAS, the Act provides that funds under the control of a Local Government may be invested
through investment pools meeting the standards of Section 2256.016 of the Act; and
WHEREAS, the Local Government has received and reviewed the Information Statement, dated
December, 2016 (the "Information Statement"), of Texas Cooperative Liquid Assets Securities System,
an investment pool administered by Public Trust Advisors, LLC, (the "Program"), which sets forth the
information required by Section 2256.016(b) of the Act; and
WHEREAS, the Local Government has determined that the investments proposed to be acquired
by the Program are of a type that are permitted by the Act and are consistent with the Policy; and
WHEREAS, the Local Government has determined that an investment in the Program will assist
the Local Government in achieving the goals set forth in the Policy, and will tend to preclude imprudent
investment activities arising out of investment transactions conducted between the Local Government
and the Program; and
WHEREAS, the Local Government understands that the Program operates through the Seventh
Amended and Restated Trust Agreement dated as of August 5, 2016 (the "Trust Agreement"), which
provides the terms on which the Program will operate and the rights of the participants in the Program
and sets forth the responsibilities of Public Trust Advisors, LLC, as the administrator of the Program (the
"Administrator"), and of Wells Fargo Bank as custodian (the "Custodian");
999 18th Street, Suite 1230 T 800-707-6242 clientservices@texasclass.com
Denver, CO 80202 F 855-848-9910 www.texasclass.com
Page 3
Texas
M��CL
NOW THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE LOCAL GOVERNMENT:
That the form, terms and provisions of the Trust Agreement, a draft of which was presented and
reviewed at this meeting, providing for the creation of the Program and for the rights of the Program
participants and the duties and responsibilities of the Administrator, be and the same are hereby approved
and adopted; and that the Investment Officer be and he or she is hereby authorized and directed to
execute and deliver to the Administrator and the Custodian in the name and on behalf of the Local
Government, a participation certificate evidencing the agreement of the Local Government to be bound
by the Trust Agreement substantially in the form of the Trust Agreement reviewed and approved at this
meeting, together with such changes therein as may be approved by the said officer, such approval to be
conclusively evidenced by the execution thereof; and be it further
Resolved, that the investment program established by the Trust Agreement is hereby found and
determined to be consistent with the Policy, and to preclude imprudent investment activities arising out
of investment transactions conducted between the Local Government and the Program; and be it further
Resolved, that the Governing Body hereby officially finds and determines that the facts and
recitations contained in the preamble of this Resolution are true and correct; and be it further
Resolved, that the Governing Body hereby finds and declares that written notice of the date, hour,
place and subject of the meeting at which this Resolution was adopted was posted for the time required
by law preceding this meeting, and that such meeting was open to the public as required by law at all
times during which this Resolution and the subject matter thereof were discussed, considered and formally
acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended,
and the Act; and be it further
Resolved, that the officers of the Local Government, and each of them, shall be and each is
expressly authorized, empowered and directed from time to time to do and perform all acts and things
and to execute, acknowledge and deliver in the name and under the corporate seal and on behalf of the
Local Government all certificates, instruments and other papers, whether or not herein mentioned, as they
may determine to be necessary or desirable in order to carry out the terms and provisions of this Resolution
and of the Trust Agreement hereby authorized and approved, such determination to be conclusively
evidenced by the performance of such acts and things and the execution of any such certificate, financing
statement, instrument or other paper; and be it further
esol that is
passa e.
Sifinature of Mayor
este
ution shall take effect and be in full force and effect upon and after its
�y/17 Karen Selbo Hunt
to Printed Name
Christel Pettinos
Secretary / Date / / Printed Name
999 18th Street, Suite 1230 T 800-707-6242 clientservices@texasclass.com
Denver, CO 80202 F 855-848-9910 www.texasclass.com
Page 4