HomeMy WebLinkAboutRes 00-05 Authorizing a TexPool Agreement Between Trophy Club/Westlake DPS and the Comptroller of Public AccountsTOWN OF WESTLAKE
RESOLUTION 00-05
A RESOLUTION OF THE BOARD OF ALDERMEN OF THE TOWN OF
WESTLAKE, TEXAS, AUTHORIZING EXECUTION OF A TEXPOOL
PARTICIPATION AGREEMENT BETWEEN THE TROPHY
CLUBIWESTLAKE DEPARTMENT OF PUBLIC SAFETY AND THE
COMPTROLLER OF PUBLIC ACCOUNTS.
WHEREAS, the Town of Trophy Club, the Town of Westlake, Trophy Club
Municipal Utility District #1 and Trophy Club Municipal Utility District #2 (collectively
referred to as the "Participating Entities"), have entered into a Contract to create the
Trophy Club/Westlake Department of Public Safety (the "DPS") for the purpose of
providing the Participating Entities with the governmental functions and services relating
to police protection. municipal court services, fire protection and emergency medical
services; and
WHEREAS, the Participating Entities, pursuant to the Contract, provided for the
operation of the Trophy Club/Westlake Department of Public Safety under the
supervision of a special board., known as the Trophy Club/Westlake Department of Public
Safety Board ( the "Board") subject to the review and approval of the governing bodies of
the Participating Entities, and
WHEREAS, the Participating Entities authorized the Board to perform certain
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governmental functions that each Participating Entity would be authorized to perform
individually, and
WHEREAS, participation in TexPool requires that the Participating Entities,
acting by and through the Board, enter into a TexPool Participation Agreement (the
"Participation Agreement") with the Comptroller of Public Accounts (the
"Comptroller"), acting by and through the Texas Treasury Safekeeping Trust Company
(the "Trust Company"), trustee of TexPool, and
WHEREAS, the Participation Agreement is subject to Chapter 791, Texas
Government Code (the "Interlocal Cooperation Act") and Chapter 2256, Texas
Government Code (the "Public Funds Investment Act"): and
WHEREAS, it is in the best interest of the Participating Entities and the DPS
that the Board, acting on behalf of the Participating Entities, invest the DPS 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, TexPool 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 RESOLVED BY THE BOARD OF
ALDERMEN OF THE TOWN OF WESTLAKE, TEXAS:
SECTION 1: That the Board is hereby authorized to enter into a TexPool
Participation Agreement with the Comptroller on behalf of the Trophy Club/ Westlake
Department of Public Safety (the "Participant") to establish an account in the name of
the DPS, for the purpose of transmitting local funds for investment in TexPool.
SECTION 2: That the individuals, whose signatures appear in this Resolution.'
are authorized representatives of the DPS and the Board 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 of the authorized representatives of the Board and DPS.
1. Name: Jam e&k. Buxton Titl Director of Finance - Trophy Club
Signature:
2. Name: Roger\Unger-, Title: District Manager - Trophy Club MUD's
-,a Title: Town
3. Name: Donna e h Manager - TrophyClub
Signature:
4. Name: Trent O. Pe y Title: Town Manager - Westlake
A.
Signature:
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 is:
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In addition, the authorized representative listed below is designated to perform only
inquiry of selected information. The limited representative cannot make deposits or
withdrawals.
N
Renae Gonzales") Title: Accountant
Signature:
SECTION 3: That this resolution 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.
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6i—ngWCross,AT, ToSecretary
Scott Bradley;
Trent O. Petty. ToAqi Wiiger
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