R22CITY SSECRETA
CITY OF KENNEDALE O FIGIA L FILE COPY
RESOLUTION NO. 22
WHEREAS, the City of Kennedale is a political subdivision of the
State of Texas 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 City of Kennedale 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 City of
Kennedale,
NOW, THEREFORE, BE IT RESOLVED:
A. That the City of Kennedale shall enter into a Participation
Agreement to 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.
B. That the following individuals, whose signatures appear on
this Resolution, are officers, employees, or authorized
representatives of the City of Kennedale 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:
1. Name:
Signature:
Title: DIRECTOR OF FINANCE
2. Name: TE GiE '7 Title: CITY ADMINISTRATOR
Signa%re:
3. Name: LYNETTE wHIDDEN Title: ACCOUNTANT
Signature: f
C. That this resolution and its authorization shall continue in
full force and effect until amended or revoked by the City of
Kennedale, and until the Trust Company receives a copy of any
such amendment or revocation. The Trust Company is entitled
to rely on this resolution until such time.
PASSED AND APPROVED on this 14th day of April, 1994.
APPROVED:
x
Mayor Bill Abbott
ATTEST:
Kathy -LiOner, City Secretary
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