From
Lee Harriss
Title
Amend the Authorized Representatives for TexPool
Presenter
Lee Harriss, Treasurer
Recommended Action
Approve
Analysis
The Grand Prairie Sports Facilities Development Corporation is a participant in TexPool which is a public funds investment pool created on behalf of entities. The investment objectives are consistent with the Public Funds Investment Act of Texas and are, in order of priority, the preservation and safety of principal, liquidity, and yield.
TexPool requires a resolution for adding or changing the names of individual authorized to make transactions on behalf of the Sports Corporation/TexPool participant. These individuals are identified as the Authorized Representatives of the Sports Corporation/Texpool participant. The attached resolution names three individuals authorized at TexPool for the Sports Corporation: Becky Brooks, Assistant CFO, Brady Olsen, Treasurer, and Jacqueline Hathorn, Treasury Analyst.
Financial Consideration
None
Body
RESOLUTIONS OF
GRAND PRAIRIE SPORTS FACILITIES
DEVELOPMENT CORPORATION, INC.
Adopted at a Meeting on May 6, 2019
A RESOLUTION OF THE GRAND PRAIRIE SPORTS FACILITIES DEVELOPMENT CORPORATION, AMENDING THE AUTHORIZED REPRESENTATIVES OF THE THE GRAND PRAIRIE SPORTS FACILITIES DEVELOPMENT CORPORATION AS A TEXPOOL PARTICIPANT
Whereas, The Grand Prairie Sports Facilities Development Corporation, Location 79269, (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 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 Pool ("TexPool/Texpool Prime"), a public funds investment pool, were created on behalf of entities whose investment objective in order of priority are preservation and safety of principal, liquidity, and yield consistent with the Public Funds Investment Act.
Now, therefore, be it
NOW THEREFORE, BE IT RESOLVED, by the GRAND PRAIRIE SPORTS FACILITIES DEVELOPMENT CORPORATION that:
Section 1. THE INDIVIDUALS, WHOSE SIGNATURES APPEAR IN THIS RESOLUTION, ARE AUTHORIZED REPRESENTATIVES 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.
Section 2. AN AUTHORIZED REPRESENTATIVE OF THE PARTICIPANT MAY BE DELETED BY A WRITTEN INSTRUMENT SIGNED BY TWO REMAINING AUTHORIZED REPRESENTATIVES PROVIDED THAT THE DELETED AUTHORIZED REPRESENTATIVE (1) IS ASSIGNED JOB DUTIES THAT NO LONGER REQUIRE ACCESS TO THE PARTICIPANT'S TEXPOOL/TEXPOOL PRIME Account OR (2) IS NO LONGER EMPLOYED BY THE PARTICIPANT.
SECTION 3. THE PARTICIPANT MAY, BY AMENDING RESOLUTION SIGNED BY THE PARTICIPANT, ADD AN AUTHORIZED REPRESENTATIVE PROVIDED THE ADDITIONAL AUTHORIZED REPRESENTATIVE IS AN OFFICER, EMPLOYEE OR AGENT OF THE PARTICIPANT.
SECTION 4. AUTHORIZED REPRESENTATIVES OF THE PARTICIPANT ARE LISTED BELOW. ANY NEW INDIVIDUALS WILL BE ISSUED PERSONAL IDENTIFICATION NUMBERS TO TRANSACT BUSINESS WITH TEXPOOL PARTICIPANT SERVICES.
Becky Brooks _________________________________
Assistant Chief Financial Officer Signature
972-237-8099
Brady Olsen _________________________________
Treasury and Debt Manager Signature
972-237-8089
Jacqueline Hathorn _________________________________
Cash and Debt Analyst Signature
972-237-8114
SECTION 5. AUTHORIZED REPRESENTATIVES LISTED BELOW WILL HAVE PRIMARY RESPONSIBILITY FOR PERFORMING TRANSACTIONS AND RECEIVING CONFIRMATIONS AND MONTHLY STATEMENTS UNDER THE PARTICIPATION AGREEMENT.
Brady Olsen, Treasury and Debt Manager
PASSED AND ADOPTED, this 6th day of May, 2019.
________________________________
President
ATTEST:
________________________________
, Secretary