RE 2002-05-14.1RESOLUTION NO. 2002-0514.1
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 SHORT TERM ASSET RESERVE PROGRAM
("TEXSTAR"); 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 safety of principal, liquidity, and yield consistent with the Public
Funds Investment Act; and
WHEREAS, the Texas Short Term Asset Reserve Program ("TEXSTAR"), 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 TEXSTAR 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.
numbers.
Jim Witt, City Manager
Jennifer Armstrong, Finance Director
Chad Beach, Assistant Finance Director
These individuals will be issued P.I.N.
Signature: & .......
Signature:
Si gnature:
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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effect until amended or repealed by the City, and until TEXSTAR receives a copy of any such
amendment or revocation.
SECTION 3. 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 14th dayof May ,2002.
APPROVED: ~
CANDY SHEEHAN, MAYOR
ATTEST:
LIBBY BALL, CITY SECRETARY
ROBERT E. HAGER
CITY ATTORNEY
REH/cdb 5/6/02)
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