CC Resolution No. 11492074
RESOLUTION NO. 1149
A RESOLUTION AUTHORIZING THE CITY OF BAYTOWN TO
ESTABLISH AN ACCOUNT WITH TEXPOOL FOR THE PURPOSE OF
TRANSMITTING LOCAL FUNDS FOR INVESTMENT BY THE TRUST
COMPANY TEXPOOL; AND PROVIDING FOR THE EFFECTIVE DATE
THEREOF.
WHEREAS, the City of Baytown, is a 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, to act as a 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
Company ") 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 BY THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS:
Section 1: That the City of Baytown shall establish an
account in its name with the Trust Company's Local Government
Investment Pool, "TexPool ", for the purpose of transmitting local
funds for investment by the Trust Company in TexPool.
Section 2: That the following individuals, whose signatures
appear below on this Resolution, are officers or employees of the
Participant and are each hereby authorized to transmit funds to
the Trust Company 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:
Name: Monte Mercer Title: Finance Director
Signature:
Name:
Signature:
Name: John Moore, Jr.
Signature: Q t- n�
Title: Senior Accountant
Title: Accountant
2075
Section 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 Company
is entitled to rely on same.
INTRODUCED, READ, and PASSED, by the affirmative vote of the
City Council of the City of Baytown, this the 26th day of May,
1992.
8OBB C EDILLE, Mayor
Attest:
EILEEN P. HALL, City Clerk
,GiACIO RAMIREZ, , City Attorney
C:1:10:9