R557RESOLUTION NO. 557
A RESOLUTION OF THE CITY OF KENNEDALE, TEXAS, AMENDING
AUTHORIZED REPRESENTATIVES OF TEXAS SHORT TERM ASSET
RESERVE PROGRAM (TEXSTAR) LOCAL GOVERNMENT
INVESTMENT POOL.
WHEREAS, the City of Kennedale (the "Participant") is a local government of the
State of Texas and is empowered to delegate to a public funds 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 of Kennedale, Texas, 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 TEXSTAR Local Government Investment Portfolio, a public
funds investment pool (a "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 HEREBY RESOLVED BY THE CITY COUNCIL OF
THE CITY OF KENNEDALE, TEXAS:
A. That the City of Kennedale, Texas, shall amend authorized representatives, for
the purpose of transmitting local funds for investment in the TEXSTAR series.
The form of application for amendment to this resolution is approved.
B. That individuals, whose signatures appear in this Resolution, are Authorized
Representatives of the City of Kennedale, Texas, and are each hereby
authorized to transmit funds for investment in the Pool 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.
C. That the City of Kennedale, Texas, may by Amending Resolution change
Authorized Representatives provided the additional Authorized Representative is
an officer, employee, or agent of the City of Kennedale.
List of the Authorized Representatives of the City of Kennedale, Texas.
These individuals may be issued P.I.N. Numbers.
1. Name: Lakeita Sutton Title: Finance Director
2. Name: Debby Scott Title: Accounting Technician
List the name of the Authorized Representative provided above that will
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have primary responsibility for performing transactions and receiving
confirmations and monthly statements under the Participation Agreement.
Name: Lakeita Sutton Title: Finance Director
D. That this Resolution and its authorization shall continue in full force and effect
until amended or revoked by the Participant and until the Pool receives a copy of
any such amendment or revocation.
DULY PASSED, ADOPTED, AND APPROVED BY THE CITY COUNCIL OF THE
CITY OF KENNEDALE, TEXAS, ON THE 20TH DAY OF AUGUST, 2019.
ATTEST:
CO -
CITY SECRETARY LESLIE E. GALLOWAY
APPROVED AS TO FORM AND LEGALITY:
CITY ATTORNEY DREW L-4RKI
APPROVED:
MAYOR B'IAN JOHNSON
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R557 CITY OF KENNEDALE, TX 2019