HomeMy WebLinkAbout025556 RES - 11/11/2003RESOLUTION AUTHORIZING PARTICIPATION IN TEXAS SHORT TERM
ASSET RESERVE PROGRAM (TEXSTAR), A LOCAL GOVERNMENT
INVESTMENT POOL, AND DESIGNATING AUTHORIZED
REPRESENTATIVES
WHEREAS, it is in the best interests of the City of Corpus Christi to invest its funds
jointly with other Texas local governments in the Texas Short Term Asset Reserve
Program (TexSTAR), a local government investment pool, in order to better preserve
and safeguard the principal and liquidity of such funds and to earn an acceptable yield;
WHEREAS, the City of Corpus Christi is authorized to invest its public funds under its
control in TexSTAR and to enter into the participation agreement authorized in this
Resolution;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS:
SECTION 1. The form of application for participation in TexSTAR attached to this resolution is
approved. The officers specified in the application are authorized to execute and submit the
application, to open accounts, to deposit and withdraw funds, to designate other authorized
representatives, and to take all other action required or permitted by the City of Corpus Christi
under the Agreement created by the application, all in the name and on behalf of the City of
Corpus Christi.
SECTION 2. The TexSTAR Investment Policy is adopted as City of Corpus Christi investment
policy, the TexSTAR investment officers are designated as the City of Corpus Christi's
investment officers, and the TexSTAR Board is designated as custodian and depository, in
each case for the City of Corpus Christi's public funds and funds under its control that are
deposited with TexSTAR. Unless the City of Corpus Christi provides a contrary Investment
Policy to TexSTAR, it shall be the City of Corpus Christi's Investment Policy that any or all of
its public funds and funds under its control may be invested in and through TexSTAR.
SECTION 3. This resolution will continue in full force and effect until amended or revoked by
Applicant and written notice of the amendment or revocation is delivered to the TexSTAR
Board.
ATTEST:
Armand~
City Secretary
THE CITY OF CORPUS CHRISTI
Mayor
Approved: October 29, 2003
Lisa Aguilar ~
Assistant City Attorney
for City Attorney
TexSTAR RES DQC
Corpus Christi, Texas
The above resolution was passed by the
Samuel L. Neat, Jr. l,,~~,
Brent Chesney
Javier D. Colmenero
Melody Cooper
Henry darrett
Bill Kelly
Rex A. Kinnison
Jesse Noyola
Mark Scott
,2003
following vote:
TexSTAR RES.DOC
TexSTAR, i
APPLICATION FOR PART ICIPATION IN TExSTAR
The undersigned local government (Applicant) applies and agrees to become a Participant in the Texas Short Term
Asset Reserve Program (TExSTAR).
Authorization. The governing body of Applicant has duly authorized this application by adopting the
following resolution at a meeting of such governing body duly called, noticed, and held in accordance with the
Texas Open Meeting Law, chapter 551, Texas Government Code, on , 20 :
WHEREAS, it is in the best interests of this governmental unit ("Applicant") to invest its funds jointly with other
Texas local governments in the Texas Short Term Asset Reserve Program (TEXSTAR) in order better to
preserve and safeguard the principal and liquidity of such funds and to earn an acceptable yield; and
WHEREAS, Applicant is authorized to invest its public funds and funds under its control in TEXSTAR and to
enter into the participation agreement authorized herein;
Now, THEREFORE, B Erf RESOLVED THAT:
SECTION 1. The form of application for participation in TEXSTARattached to this resolution is approved. The
officers of Applicant specified in the application are authorized to execute and submit the application, to open
accounts, to deposit and withdraw funds, to desig hate other authorized representatives, and to take all other
action required or permitted by Applicant under the Agreement created by the application, all in the name and
on behalf of Applicant.
SECTION 2. The TEXSTAR investment Policy is adopted as Applicant's investment policy, the TEXSTAR
investment officers are designated as Applicant's investment officers, and the TEXSTAR Board is designated
as custodian and depository, in each case for Applicant's public funds and funds under its control that are
deposited with TEXSTAR. Unless Applicant provides a contrary investment policy to TEXSTAR, it shall be
Applicant's investment policy that any or all of its public funds and funds under its control may be invested in
and through TEXSTAR.
SECTION 3. This resolution will continue in full force and effect until amended or revoked by Applicant and
written notice of the amendment or revocation is delivered to the TEXSTAR Board.
SECTION 4. Terms used in this resolution have the meanings given to them by the application."
Agreement. Applicant agrees with other TEXSTAR Participants and the TEXSTAR Board to the Terms and
Conditions of Participation in TEXSTAR, effective on this date, which are incorporated herein by reference.
Applicant makes the representations, designations, delegations, and representations described in the Terms
and Conditions of Participation.
Authorized Representatives, Each of the following Participant officials is designated as Participants
Authorized Representative authorized to give notices and instructions to the Board in accordance with the
Agreement, the Bylaws, the investment Policy, and the Operating Procedures:
Name Sinnature Title Direct Phone
Dorothea L. Montoya
City Treasurer
............................................
The following Participant official listed above is designated as the Primary Contact and will receive all
TexSTAR correspondence including transaction confirmations and monthly statements [required]:
Name E-mail address
The following Participant official not listed above is designated as a Participant Inquiry Only Representative
authorized to obtain account information [optional]:
Name
Jerome Joslin
Siqnature Title
Automation Coordinator
Applicant may designate other authorized representatives by written instrument signed by an existing
Applicant Authorized Representative or Applicant's chief executive officer.
4. Taxpayer Identification Number. Applicant's taxpayer identification number is ...........................
Bank Information Sheet(s). The attached [insert quantity] ............ Bank Information Sheet(s) is or are
approved and incorporated herein by reference to establish account(s) in the name of Applicant.
Dated this .........................................
(Name of Applicant)
(Signature of official)
............... 5.. ...............
(Printed name and title)
Approved and accepted:
TEXAS SHORT TERM ASSET RESERVE FUND
By: FIRST SOUTHWEST ASSET MANAGEMENT, INC.,
Participant Services Administrator
By: ......................................................... Date: .............................
Authorized Signer