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HomeMy WebLinkAbout20-2431RESOLUTION NO.20-2431 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DENTON AUTHORiznvG AND DESIGNATING REPRESENTATIVES OF THE CITY TO ACT AS CUSTODLAN OF THE INVESTMENT OF PUBLIC FUNDS IN THE TEXAS LOCAL GOVERNMENT INVESTMENT POOL (“TEXPOOL”); DELEGATING AUTHORITY TO INVEST FUNDS AND ACT AS CUSTODIAN OF INVESTMENTS PURCHASED WITH LOCAL INVESTMENT FUNDS TO TEXPOOL; AUTHORIZING THE MAYOR TO EXECUTE A RESOLUTION AUTHORIZING PARTICIPANT IN THE TEXPOOL INVESTMENT POOLS AND DESIGNATING AUTHORIZED REPRESENTATIVES; PROVIDING FOR REPEALER; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Denton (“Participant”) is a local government or state agency of the State of Texas, and is empowered to delegate to the public funds investment pools 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 Participant 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 Texas Local Government Investment Pools (“TexPool”), public funds investment pools, were 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; and WHEREAS, Participant adopted Resolution R2007-037 authorizing Participant to enter into a participation agreement (the “Participation Agreement”) with TexPool; and WHEREAS, Participant desires to amend the Participant’s authorized representatives designated by Resolution R19-2817, Resolution R2007-037 and the Participation Agreement; NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY RESOLVES: SECTION 1. The Resolution Authorizing Participation in the TexPool Investment Pools and Designating Authorized Representatives, attached hereto and incorporated herein for all purposes, is hereby approved, and the Mayor is authorized to execute said resolution on behalf of Participant. SECTION 2. The individuals whose signatures appear in this Section and the Resolution Authorizing Participation in the TexPool Investment Pools and Designating Authorized Representatives are the only authorized representatives of the Participant and are each hereby authorized to transmit funds 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. List the authorized representatives of the Participant. These individuals will be issued Personal Identification Numbers (PINs) to transact business via the phone with a Participant Services Representative. 1. Name: Randee Klingele Title: Treasury Manager Phone/Fax/Email: (')) 349-8206 / (940) 349-7206 / randee.klingele@cityofdenton.com Signaur§d It 2. Name: Matthew Hamilton Title: Treasury Analyst Phone/Fax/Email: (940) 349-8127 / (940) 349-7206 / matthew.hamilton@cityofdenton.com Sig„,t„„, V&t 'J/&„'>4 c'--JEz’ ’ 3. Name: Cassandra Ogden Title: Director of Finance / cassandra.ogden@cityofdenton.comPhone/Fax/Email: (940) 349-7195 / (940) 349-7206 Signature 4. Name: David Gaines Title: Assistant City Manager / CFO Phone/Fax/Email: (940) 349-8260/ (940) H206 / david.gaines@cityofdenton.com Signature : I 5. Name: Cody Wood Phone/Fax/Email: Tile: Assistant Controller ) 349-7206 / cody.wood@cityofdenton.com(940) )49-8178 / Fax (94( Signature:7 List the name of the Authorized Representative provided above who will have primary responsibility for performing transactions and receiving confirmations and monthly statements under the Participation Agreement. Name:_Randee Klingele_ In addition and at the option of the Participant, one additional authorized representative can be designated to perform inquiry only of selected information. This limited representative cannot make deposits or withdrawals. If the Participant desires to designate a representative with inquiry rights only, complete the following information 6. Name: N/A Phone/Fax/Email : Title: Page 2 SECTION 3. This Resolution and its authorization shall continue in full force and effect until amended or revoked by the Participant, and until TexPool receives a copy of any such amendment or revocation. SECTION 4. Resolution R19-2817 and Resolution R2007-037 are hereby repealed and replaced in their entirety by this Resolution. All provisions of the resolutions and ordinances of the City of Denton in conflict with the provision of this Resolution are hereby repealed. The repeal of any resolution or ordinance or any portion thereof by the preceding text shall not affect or impair any act done or right vested or accrued or any proceeding, suit or prosecution had or commenced in any cause before such repeal shall take effect and such shall remain in force for all intents and purposes as if such resolution or ordinance or part thereof so repealed shall remain in force . p SECTION 5. The motion to approve this Resolution was made by Yao 11 : : i= = d+ ; t h e R e s o 1 u t i o n vv a s P a s s e d Aye Nay Abstain Absent Gerard Hudspeth, Mayor:a a ./ r I \/ V/ Birdia Johnson, District 1 : Connie Baker. District 2: Jesse Davis, District 3 : John Ryan, District 4: Deb Armintor, At Large Place 5 : Paul Meltzer, At Large Place 6: PASSED AND ADOPTED thi, th, g& d,y ,f al 2021. GERARD HUDSPETH, MAYOR Page 3 ATTEST: ROSA RIOS, CITY SECRETARY APPROVED AS TO LEGAL FORM: AARON LEAL, CITY ATTORNEY /£&£ bAD'&,'[ UH III IIIIII Ill Resolution Authorizing Participation in the TexPool Investment Pools and Designating Authorized Representatives WHEREAS,£ity of Denton „„„„_„„„„ I (''Participartt“) is a Eocal government or state agency of the State of Texas and is empowered to delegate to the pubIIc funds investment pools 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 Participant 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 Texas Local Government Investment Pools (“TexPool/TexPool Prime“), public funds investment pools. were 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 resolved as follows: A. That Participant shall enter into a ParticIpation Agreement to establish an account in its name in TexPool/TexPool Prime, for the purpose of transmitting local funds for investment in TexPool/TexPool Prime B. That the individuals, whose signatures appear in this Resolution, are authorized repesentatives of the Participant and are each hereby authorized to transmit funds for investment in TexPool/TexPool Prime 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 Authorized Representatives of the Participant P.I.N. numbers toThese incHTIs wjll be ab iTS.,tSr, H HejPn•\•mjP• via telephone with a Participant Service Representative ••••W\•j 9 b 2 log U Telephone Number VFr=VJVJL b VJVJV=VJV•bn fqandee Klingel£ Printed Name gm,ManIa Lr Tide 9 HUg„j Fax Number I [andee.kI jw ele@c®ofdenton.corn Email 2.L-Wah'::t_begG. Signature I j I I I ::„HRM„„n„„u*a Telephone Number L9j£lo ?£4l9£7k2 LoiQ Fax Number }natthew.harnilton@cityofdenton .com Email WJ£w_H3Wgl Printed Name [T_Qe?lryJ\£Lgjy_g Title I 9 Telephone Number }934 lo{33 A7L2£Jo A Fax Number Passanc![e_gMO Printed Name JDirector of Finance Tide IE 4 Signature yassandr„a.ogden@Wgf_denton.com Email I j i 9l4 [&}_H_al8 JR_QJ Telephone Number L9L4 } a 3a9{71 2 j o ] E Fax Number !)avid Gai_on Printed Name hssistant City MarLag_hr Cm Title }david.gaine_@_!yof(leWgm Email Form Continues on Next Page I of 2 Authorized Representatives of the Participant (continued) 5 n t ure odv WOOl ©4.a3J 14 ,_9j8J U 8] Telephone Number Q9 3jku2n_i_gI__$_j Fax Number I I Printed Name ?\!!ij}anLg29_nt[oIL% Title Ho y=w9#c„©9j,!y„91,jorI.corn, Email List the name of the Authorized Representative provided above that will have primary responsibility for performing transactions and receiving confirmations and monthly statements under the Participation Agreement. 8ande9Jlingele _ _ Printed Name In addition and at the option of the Participant, one additional authorized representative can be designated to perform inquiry only of selected information' This limited representative cannot make deposits or withdrawals. If the Participant desires to designate a representative with inquiry rights only, complete the following information [ Printed Name Telephone Number U Fax Number &&&i Title i Email C. That this resolution and its authorization shall continue in full force and effect until amended or revoked by the Participant, and until TexPool/TexPool Prime receives a copy of any such amendment or revocation. This resolution is hereby introduced and adopted by the Participant at its regular/special meeting held on the U J day of ..Hy_j , A.al} Document is to be signed by a Board (>ffker, Mayor or County Judge and attested by a Board Officer, City Secretary or County Clerk. [, Name of Participant I SIGNED Signature gerard Hug_gpSb Printed Name Mayor Title \\\1111111/f J//pf-/i./OF ee••Be ’Z a-t e+• l II\ j SILnature Printed Name jcity„9_q£EIQT_ Tide ORIGINAL SIGNATURE AND DOCUMENT REQUIRED TEX-BANK 2 OF 2 1-866-TEXPOOL (839-7665) ' TexPool.com © 2020 Federated Hermes, ErIC. 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