R176RESOLUTION NO. 176
A RESOLUTION AUTHORIZING PARTICIPATION IN TEXAS
SHORT TERM ASSET RESERVE PROGRAM
AND
APPROVING APPLICATION FOR PARTICIPATION IN TEXSTAR
WHEREAS, the City of Kennedale, Texas (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 its funds jointly with
other Texas local governments in the Texas Short Term Asset Reserve Program (TexSTAR) 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.
WHEREAS, City of Kennedale, Texas is authorized to invest its public funds under its control in
TexSTAR and to enter into the participation agreement authored herein;
NOW THEREFORE, BE IT RESOLVED THAT:
A. The City of Kennedale, Texas shall enter into a Participation Agreement to establish an
account in its name in the TexSTAR, for the purpose of transmitting local funds for
investment in TexSTAR. The form of application for participation in TexSTAR attached
to this resolution is approved. The officers of City of Kennedale, Texas in the
application are authorized to execute and submit the application, to open accounts to
deposit and withdraw funds, to designate other authorized representative, and to take all
other action required or permitted by the City of Kennedale, Texas under the Agreement
created by the application, all in the name and on behalf of the City of Kennedale, Texas.
B. The TexSTAR Investment Policy is adopted as the Participant's investment policy, the
TexSTAR investment officers are designated as Participant's investment officers, and
the TexSTAR Board is designated as custodian and depository, in each case for the
Participant's public funds and funds under its control that are deposited with TexSTAR.
Unless Participant provides a contrary investment policy to TexSTAR, it shall be
Participant's investment policy that any or all of its public funds and funds under its
control maybe invested in and through TexSTAR.
C. This Resolution and its authorization shall continue in full force and effect until
amended or revoked by the Participant, and written notice of the amendment or
revocation is delivered to the TexSTAR Board.
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DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
KENNEDALE, TEXAS ON THE 8TH DAY OF APRIL, 2004.
CITY OF KENNEDALE, TEXAS
f
ark Wright ~ ayor
ATTEST:
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APPLICATION FOR PARTICIPATION 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 -April 8 , 2004:
2. 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.
3. 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:
4
Name Si nature Title
,`~.
David Miller City Manager
Margaret Assistant to City
Eichelberger 1~ Manager
~~
Director of
Li Jen Lee ~ Finance
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
............ Li Jen Lee.......... ... Ilee@cityofkennedale.com...
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
75-6003070......
5. Bank Information Sheet(s). The attached [insert quantity] ...1......... Bank Information
Sheet(s) is or are approved and incorporated herein by reference to establish account(s) in the
name of Applicant.
Dated this ...April 8, 2004 .......................................
...City of Kennedale, Texas..........
(Name of Applicant)
(Signature ffiQial)
Mark Wri ,Mayor
......................................................................
(Printed name and title)
Approved and accepted:
TEXAS SHORT TERM ASSET RESERVE FUND
By: FIRST SOUTHWEST ASSET MANAGEMENT, INC.,
Participant Services Administrator
B ...... ... !.'T..~..~ .......................... Date: ..~.~.1..~.~'Q.
Authorized Signer