1997R09- EXECUTION OF AN INTETLOCAL AGREEMENT
RESOLUTION NO.
tj1-1!- 9
A RESOLUTION
BY THE CITY COUNCIL OF THE CITY OF SCHERTZ,
TEXAS, APPROVING AND AUTHORIZING EXECUTION OF AN
INTERLOCAL AGREEMENT FOR PARTICIPATION IN A
PUBLIC FUNDS INVESTMENT COOPERATIVE (THE
"COOPERATIVE") , DESIGNATING THE BOARD OF
DIRECTORS OF THE COOPERATIVE AS AN AGENCY AND
INSTRUMENTALITY TO SUPERVISE THE COOPERATIVE,
APPROVING INVESTMENT POLICIES OF THE COOPERATIVE,
APPOINTING AUTHORIZED REPRESENTATIVES AND
DESIGNATING INVESTMENT OFFICERS.
WHEREAS, the Interlocal Cooperation Act, Chapter 791
of the Texas Government Code, as amended (the "Interlocal
Act"j, permits any "local government" to contract with one
or more other "local governments" to perform "governmental
functions and services," including investment of public
funds (as such phrases are defined in the Interlocal Act);
and
WHEREAS, the Interlocal Act authorizes the contracting
parties to any inter local agreement to contract with
agencies of the State of Texas, within the meaning of
Chapter 771 of the Government Code; and
WHEREAS, the Act permits the contracting parties to
any interlocal agreement to create an administrative agency
to supervise the performance of such inter local agreement
and to employ personnel and engage in other administrative
activities and provide other administrative services
necessary to execute the terms of such interlocal
agreement; and
WHEREAS, the Public Funds Investment Act, Chapter
2256 of the Texas Government Code, as amended (the "PFIA"),
authorizes the entities described in Subsection (a) of the
PFIA to invest their funds in an eligible public funds
investment pool, and the Local Government Investment
Cooperative has become and intends to remain an eligible
public funds investment pool, under terms and conditions
set forth in PFIA; and
WHEREAS, the City of Schertz (the Government Entity")
desires to enter into that certain Interlocal Agreement
(the "Agreement"), a copy of which is presented with this
Resolution and is incorporated herein by reference, and
become a participant in a public funds investment pool
created thereunder and under PFIA, to be known as Local
Government Investment Cooperative (the "Cooperative"); and
WHEREAS, the Government Entity is a Government Entity
as defined in the Agreement; and
WHEREAS, the Government Entity desires to cause
administration of the Cooperative to be performed by a
board of directors (the "Board"), which shall be an
administrative agency created under the Interlocal Act;
and
WHEREAS, the Government Entity desires to designate
the Board as its agency and instrumentality with authority
to supervise performance of the Agreement, employ personnel
and engage in other administrative activities and provide
other administrative services necessary to execute the
terms of the Agreement; and
WHEREAS, each capitalized term used
Resolution and not otherwise defined has the same
assigned to it in the Agreement;
in this
meaning
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SCHERTZ, TEXAS:
1. THAT, the Agreement is hereby approved and adopted
and, upon execution thereof by an Authorized Representative
(defined below) and receipt of the Government Entity's
application to join the Cooperative by the Administrator,
the Government Entity shall become a Participant in the
Cooperative for the purpose of investing its available
funds therein from time to time in accordance with its
terms; and
-
2. THAT, the Board is hereby designated as an agency
and instrumentality of the Government Entity, and the Board
shall have the authority to supervise performance of the
Agreement and the Cooperative, employ personnel, and engage
in other administrative activities and provide other
administrative services necessary to execute the terms of
the Agreement; and
3. THAT, the investment policies of the Cooperative,
as set forth in the document entitled Investment Policies,
as summarized in the Information Statement, and as may be
amended from time to time by the Board, are hereby adopted
as investment policies of the Government Entity with
respect to money invested in the Cooperative, and any
existing investment policies of the Government Entity in
conflict therewith shall not apply to investments in the
Cooperative; and
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4. THAT, the following officers, officials or
employees of the Government Entity are hereby designated as
"Authorized Representatives," within the meaning of the
Agreement, with full power and authority to: execute the
Agreement, an application to join the Cooperative and any
other documents required to become a Participant; deposit
money to and withdraw money from the Government Entity's
Cooperative account from time to time in accordance with
the Agreement and the Information Statement; and take all
other actions deemed necessary or appropriate for the
investment of funds of the Government Entity:
Signature:
K.~~Q
Kerry . Sweatt
Signature:
Cit~VVl~
Steve Simonson
Asst. City Manager
Signature
.29~
,
L.J. Cott
Comptroller
In accordance with Cooperative procedures, an Authorized
Representative shall promptly notify the Cooperative in
writing of any changes in who is serving as Authorized
Representatives; and
5. THAT, in addition to the foregoing Authorized
Representatives, each Investment Officer of the Cooperative
appointed by the Board from time to time is hereby
designated as an investment officer of the Government
Entity and, as such, shall have responsibility for
investing the share of Cooperative assets representing
funds of the Government Entity. Each depository and
custodian appointed by the Board from time to time are
hereby designated as a depository and custodian of the
Government Entity for purposes of holding the share of
Cooperative assets representing funds of the Government
Entity.
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PASSED,
APPROVED
AND
9~~ d ,
, 1997.
ATTEST:
ADOPTED this the /~ day of
~
Mayor, City of Schertz, Texas
~ ~~~ae./
City Secretary, City of Schertz
(SEAL OF CITY)
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LOGIC
Authorization for Electronic Transfer
by Automated Clearinghouse (ACH)
Government Entity:
City of Schertz
Bank Information for ACH Transfers
Bank Name:
Bank Address:
City:
Bank Contact:
Phone:
Schertz Bank and Trust
P. O. Box 800
Schertz , Texas Zip: 7615/,
Patricia J Dietz
( 210) 945-7400 Fax: ( 210) 945-7424
Bank ABA Number: 1 1 4 9 1 6 1 0 3 (9 digits)
Account Number: 0000051012 - - - - -
Account Name: General Fund
I hereby authorize SW Capital Corp" as Administrator of LOGIC, to directly deposit and withdraw
funds by means of ACH electronic transfer to and from the financial institution and the account designated
above.
I agree that this authorization may be withdrawn with at least 45-days advance written notice to SW
Capital Corp. I understand that SW Capital Corp, reserves the right to discontinue ACH electronic transfer
without advance notice.
I also authorize SW Capital Corp. to deduct from the Designated Account or from subsequent
deposits made to the Designated Account all amounts deposited in error. In the event the Designated
Account is closed or contains an insufficient balance to allow deduction for amounts deposited in error, I
agree that SW Capital Corp. may withhold any payments until such amounts deposited in error are repaid.
Likewise, I authorize SW Capital Corp, to credit all amounts withdrawn in error to the Designated Account.
I hereby certify that the above information is both true and correct,
Citv Manager
Title
T11nQ. 17 1997
Date .
Authori
~~~~~~~~~~~~~~~~y~~~~~~~~~~~~~+~+++++~++$++++
AUTOMATED CLEARINGHOUSE CANCELLATION
Complete only if ACH Cancellation is desired. Effective Date:
Authorized Signature
Title
Date
LOGIC - 1201 ELM STREET SUITE #3050
DALLAS, TEXAS 75270
1-800-TX-LOGIC
03/06/97
Additional Party Agreement
The Government Entity of the State of Texas named below. acting by and
through the undersigned Authorized representative, hereby agrees to become a party
to that certain Interlocal Agreement to which this page is attached, and thereby become
a Participant in the Local Government Investment Cooperative, subject to all of the
terms and provisions of such Agreement. The undersigned hereby represents that it is
a Government Entity as defined in such Agreement.
Executed this 17th
day of .Tune
, 19 Q7
City of Schertz
Name of Government Entity
By Ao~f~~
Kerry R Sweatt
Printed Name
City Manager
Title
ACCEPTED:
Local Government Investment Cooperative
By:
LOGIC Administrator
Printed Name
Title