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RES. 2020-05 - TEXAS CLASSTOWN OF TROPHY CLUB, TEXAS RESOLUTION NO. 2020-05 A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TROPHY CLUB, TEXAS, APPROVING AND AUTHORIZING EXECUTION OF AN INVESTMENT AGREEMENT FOR PARTICIPATION IN THE TEXAS CLASS INVESTMENT POOL, DESIGNATING THE POOL AS AN AGENCY AND INSTRUMENTALITY, APPROVING INVESTMENT POLICIES OF THE POOL, APPOINTING AUTHORIZED REPRESENTATIVES, AND DESIGNATING INVESTMENT OFFICERS. WHEREAS, the Interlocal Cooperation Act, Chapter 791 of the Texas Government Code, as amended (the "Interlocal Act"), 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 interlocal agreement to contract with agencies of the State of Texas, within the meaning of Chapter 771 of the Government Code; 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 WHEREAS, it is in the best interests of this governmental unit ("Applicant') to invest its funds jointly with other Texas local governments in the Texas Cooperative Liquid Assets Securities System (Texas CLASS) in order better to preserve and safeguard the principal and liquidity of such funds and to earn an acceptable yield; and WHEREAS, Applicant is authorized to invest its public funds and funds under its control in TEXAS CLASS and to enter into the participation agreement authorized herein; and WHEREAS, the Government Entity is a Government Entity as defined in the Agreement. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF TROPHY CLUB, TEXAS: Section 1. The form of application for participation in Texas CLASS attached to this resolution is approved. The officers of Applicant specified in the application are authorized to execute and submit the application, to open accounts, to deposit and withdraw funds, to agree to the terms for use of the website for online transactions, to designate other authorized representatives, and to take all other action required or permitted by Applicant under the Agreement created by the application, all in the name and on behalf of Applicant. Section 2. This resolution will continue in full force and effect until amended or revoked by Applicant and written notice of the amendment or revocation is delivered to the Texas CLASS Board Section 3. Terms used in this resolution have the meanings given to them by the application. PASSED AND APPROVED by the Town Council of the Town of Trophy Club, Texas, on this 14th day of April 2020. ATTEST: L icib, Vacek, Town S tary Town of Trophy Club, Texas APPrROVED70 AS FORM: J. a� d D`odd,II[, Town Attorney T n of Trophy Club, Texas Z D r$w-ononner, i yo y em Town of Trophy GFub, Texas -1OI'VN [SEAS] �� .b !Il .1k O 19 � S FdVS. 2020-05 Page 2 of 3 EXHIBIT A Texas CLASS Enrollment Packet 2020 R%S. 2020-05 Page 3 of 3 • LVI Texas Cooperative Liquid Assets Securities System Trust Texas CQ$S" Texas Cooperative Liquid Assets Securities System Trust Welcome to Texas CLASS We believe you have made a sound financial decision in choosing the Texas Cooperative Liquid Assets Securities System Trust (Texas CLASS). We look forward to being your trusted provider and are excited to connect with you to make your investment process a positive, easy experience. Texas CLASS is a short-term, highly liquid investment program designed specifically for public -sector funds. It provides the opportunity to invest funds on a cooperative basis in short-term investments that are carefully selected to provide maximum safety and liquidity while generating a competitive yield. This packet contains all the materials necessary to set up your Texas CLASS account(s). If you have any questions about the registration process or about your Texas CLASS account(s), please do not hesitate to contact us. The Texas CLASS Client Service team can be reached any business day from 8:30 a.m. to 4:30 p.m. CT by phone at (800) 707-6242 or by email at clientservices(&texasclass.com. Thank you for choosing Texas CLASS! Sincerely, The Texas CLASS Board of Trustees 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 1 Texas CIL Texas Cooperative Liquid Assets Securities System Trust Registration Procedures To join Texas CLASS, please complete the following: 1) Read the Trust Agreement (A copy can be found on www.texasclass.com). 2) Pass the resolution authorizing participation in Texas CLASS (page 3 and 4). 3) Adopt the Trust Agreement by signing Exhibit D (page 5). 4) Complete the Entity Registration (page 6). 5) Complete the Authorized Contacts Form (page 7/8). 6) Complete the Account to be Established Form; you may open as many accounts as you wish (page 9). 7) Keep the original forms for your records, and send the completed packet to the Texas CLASS Client Service team by fax (855) 848-9910 or by email clientservices(@texasclass, com. Questions? Please contact us; we would love to hear from you! Texas CLASS Client Service Team T (800) 707-6242 clientservices(@texasclass.com 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 2 Texas Cb*S!" Texas Cooperative Liquid Assets Securities System Trust Resolution to Participate WHEREAS, the Public Funds Investment Act, Texas Government Code, Section 2256.001 et seq. (the Act) requires the governing body of each local government in this state to adopt investment policies in accordance with the terms of the Act; and WHEREAS, pursuant to the requirements of the Act, the Board of Trustees (the Governing Body) of the Town of Trophy Club (the Local Government) has previously reviewed and adopted an investment policy (the Policy) that provides in part that the funds of the local government will be invested in investments permitted by the Act in order to: (i) invest only in investments legally permitted under Texas law; (ii) minimize risk by managing portfolio investments so as to preserve principal and maintain a stable net asset value; (iii) manage portfolio investments to ensure that cash will be available as required to finance operations; and (iv) maximize current income to the degree consistent with legality, safety, and liquidity; and WHEREAS, pursuant to the Policy and the Act, the Local Government has appointed Mike Ervin (the Investment Officer) to act as the investment officer of the Local Government; and WHEREAS, the Act provides that funds under the control of a Local Government may be invested through investment pools meeting the standards of Section 2256.016 of the Act; and WHEREAS, the Local Government has received and reviewed the Information Statement, dated December 2016 (the Information Statement), of Texas Cooperative Liquid Assets Securities System Trust (the Program), an investment pool administered by Public Trust Advisors, LLC that sets forth the information required by Section 2256.016(b) of the Act; and WHEREAS, the Local Government has determined that the investments proposed to be acquired by the Program are of a type that are permitted by the Act and are consistent with the Policy; and WHEREAS, the Local Government has determined that an investment in the Program will assist the Local Government in achieving the goals set forth in the Policy and will tend to preclude imprudent investment activities arising out of investment transactions conducted between the Local Government and the Program; and WHEREAS, the Local Government understands that the Program operates through the Eighth Amended and Restated Trust Agreement dated as of April 8, 2019 (the Trust Agreement), that provides the terms on which the Program will operate and the rights of the Participants in the Program and sets forth the responsibilities of Public Trust Advisors, LLC as the administrator of the Program (the Administrator) and of Wells Fargo Bank as custodian (the Custodian); 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 3 Texas LTexas Cooperative Liquid Assets Securities System Trust NOW THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE LOCAL GOVERNMENT: That the form, terms, and provisions of the Trust Agreement, a draft of which was presented and reviewed at this meeting, providing for the creation of the Program and for the rights of the Program Participants and the duties and responsibilities of the Administrator be and the same are hereby approved and adopted; and that the Investment Officer be and he or she is hereby authorized and directed to execute and deliver to the Administrator and the Custodian in the name and on behalf of the Local Government a participation certificate evidencing the agreement of the Local Government to be bound by the Trust Agreement substantially in the form of the Trust Agreement reviewed and approved at this meeting, together with such changes therein as may be approved by the said officer, such approval to be conclusively evidenced by the execution thereof; and be it further Resolved that the investment program established by the Trust Agreement is hereby found and determined to be consistent with the Policy and to preclude imprudent investment activities arising out of investment transactions conducted between the Local Government and the Program; and be it further Resolved that the Governing Body hereby officially finds and determines that the facts and recitations contained in the preamble of this Resolution are true and correct; and be it further Resolved that the Governing Body hereby finds and declares that written notice of the date, hour, place, and subject of the meeting at which this Resolution was adopted was posted for the time required by law preceding this meeting and that such meeting was open to the public as required by law at all times during which this Resolution and the subject matter thereof were discussed, considered, and formally acted upon all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended, and the Act; and be it further Resolved that the officers of the Local Government, and each of them, shall be and each is expressly authorized, empowered, and directed from time -to -time to do and perform all acts and things and to execute, acknowledge, and deliver in the name and under the corporate seal and on behalf of the Local Government all certificates, instruments, and other papers, whether or not herein mentioned, as they may determine to be necessary or desirable in order to carry out the terms and provisions of this Resolution and of the Trust Agreement hereby authorized and approved, such determination to be conclusively evidenced by the performance of such acts and things and the execution of any such certificate, financing statement, instrument, or other paper; and be it further ed that (his Reso4ution shall take effect and be in full force upon and after its passage. Mayor Nick Sanders orized ig to Date Printed Name Steve Norwood Authorized Signature Date Printed Name 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 4 Texas C1 L S Texas Cooperative Liquid Assets Securities System Trust Exhibit D - Participation Certificate The undersigned Town of Trophy Club (the Local Government) does hereby request that it be admitted as a Participant pursuant to Section 2.3 of the Eighth Amended and Restated Trust Agreement (the Agreement) dated as of April 8, 2019, by and between the Participants, Wells Fargo Bank as Custodian, and Public Trust Advisors, LLC. By executing this Participation Certificate, the undersigned agrees that, upon the execution hereof by the Program Administrator, it will become subject to the same obligations and shall have the same rights as if it had executed the Agreement. The undersigned hereby certifies that Mike Erwin (the Investment Officer) is the duly designated Representative of the undersigned as required by the Agreement. The undersigned hereby certifies that its governing body has taken all actions required by Section 2256.016 of the Public Funds Investment Act, Texas Government Code, for it to participate in the Trust created by the Agreement. Town of Trophy Club Entity Name 11liq 1 Jt Steve Norwood, Town Manager Signature batL Title Accepted by Administrator (to be completed by Texas CLASS): Signature Date Title 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 5 Texas ClL �' Texas Cooperative Liquid Assets Securities System Trust Trust Registration Entity Information Entity Name (Participant) Town of Trophy Club Entity Type: 0 City/Town ❑ County ❑ School District ❑ Special District ❑ Other (Specify) Mailing Address 1 Trophy Wood Dr City Trophy Club Zip 76262 Tax ID 1-75-2047474-7 County Tarrant Fiscal Year End Date (Month/Day) 9/30 The Town of Trophy Club (the Local Government) hereby wishes to invest in the following portfolio: ❑ Texas CLASS ❑ Texas CLASS Government 0 Both Texas CLASS is hereby authorized to honor any telephoned, faxed, or electronic request believed to be authentic for withdrawal of funds. The withdrawal proceeds can be sent only to the bank(s) indicated below unless changed by written instructions. Each local government is responsible for notifying Texas CLASS of any changes to its account. Banking Information Bank Name Wells Fargo Bank Routing Number (ABA) 121000248 Account Title Designated Bank Contact Susan Dougherty ❑ Wire ❑ACH a! Both Additional Banking Information (Optional) Bank Name Account Title Bank Contact ❑ Wire ❑ACH ❑Both Account Number 4126057041 Contact's Phone Number 940-384-6355 Bank Routing Number (ABA) Account Number Contact's Phone Number 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 6 Texas CILJ IJ411 Texas Cooperative Liquid Assets Securities System Trust Authorized Contacts Representative and Authorized Signer RfMr. ❑ Ms. Mike Erwin Print First and Last Name Signature Required merwin@trophyclub.org Email Email Notifications Monthly Statements E Transaction Confirmations Additional Contact (Optional) cMr. ❑ Ms. Steve Norwood Print First and Last Name *(Signature Required if Authorized Signer) snorwood@trophyclub.org Email Finance Manager Title 682-237-2912 Phone 682-237-2996 Fax Online Account Online User Access Town Manager Title 682-237-2910 Phone 682-237-2996 Fax Permissions (must check one) Email Notifications Online Account �JAuthorized Signer to Move Funds* [:]Monthly Statements Online User Access ❑ Read -Only Access ❑Transaction Confirmations Additional Contact (Optional) ❑ Mr. ❑ Ms. April Duvall Chief Financial Analyst Print First and Last Name Title 682-237-2914 *(Signature Required if Authorized Signer) aduvall@trophyclub.org Email Permissions (must check one) ❑Authorized Signer to Move Funds* EVRead-Only Access Phone 682-237-2996 Fax Email Notifications 2Monthly Statements ❑Transaction Confirmations Online Account 17 Online User Access 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 7 Texas CIL s- Texas Cooperative Liquid Assets Securities System Trust Authorized Contacts (cont.) Additional Contact (Optional) Mr. ❑ Ms. Ernest Gillespie Print First and Last Name *(Signature Required if Authorized Signer) egillespie@trophyclub.org Email Permissions (must check one) ❑ Authorized Signer to Move Funds* 'LVfRead-Only Access Additional Contact (Optional) El Mr. �`J Ms, Leticia Vacek Print First and Last Name *(Signature Required if Authorized Signer) Ivacek@trophyclub.org Email Permissions (must check one) Authorized Signer to Move Funds* ❑ Read -Only Access Additional Contact (Optional) ❑ Mr. ❑ Ms. Wade L Carroll Print First and Last Name *(Signature Required if Authorized Signer) wcarroll@trophyclub.org Email Permissions (must check one) ❑ Authorized Signer to Move Funds* ❑ Read -Only Access Senior Accountant Title 682-237-2910 Phone 682-237-2996 Fax Email Notifications IF FffMonthly Statements ❑Transaction Confirmations Town Secretary Title 682-237-2903 Phone 682-237-2996 Fax Online Account rOnline User Access Email Notifications Online Account ❑ Monthly Statements Online User Access ❑Transaction Confirmations Assistant Town Manager Title 682-237-2984 Phone 682-237-2996 Fax Email Notifications ❑ Monthly Statements ❑ Transaction Confirmations Online Account ❑ Online User Access 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 8 Texas CQ$S"' Texas Cooperative Liquid Assets Securities System Trust Accounts to be Established Entity Name: Texas CLASS Accounts Texas CLASS Government Accounts Desired Subaccount Name(s)*: Desired Subaccount Name(s)*: (To be completed by Participant) (To be completed by Participant) *Name must be limited to 30 characters. 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 9 Texas CQ$S Texas Cooperative Liquid Assets Securities System Trust How did you hear about Texas CLASS? ❑ Texas CLASS Representative: ❑ Referral by: ❑ Texas CLASS Website ❑ Email ❑ Google Search ❑ Other: 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 10 Texas ClL �� Texas Cooperative Liquid Assets Securities System Trust Trust Registration Entity Information Entity Name (Participant) Town of Trophy Club Entity Type: 0 City/Town ❑ County ❑ School District ❑ Special District ❑ Other (Specify) Mailing Address 1 Trophy Wood Dr City Trophy Club Zip 76262 County Tarrant Tax ID 1-75-2047474-7 Fiscal Year End Date (Month/Day) 9/30 The Town of Trophy Club (the Local Government) hereby wishes to invest in the following portfolio: ❑ Texas CLASS ❑ Texas CLASS Government 0 Both Texas CLASS is hereby authorized to honor any telephoned, faxed, or electronic request believed to be authentic for withdrawal of funds. The withdrawal proceeds can be sent only to the bank(s) indicated below unless changed by written instructions. Each local government is responsible for notifying Texas CLASS of any changes to its account. Banking Information Bank Name Wells Fargo Account Title Designated Bank Contact Susan Dougherty ❑ Wire ❑ ACH Both Additional Banking Information (Optional) Bank Name Account Title Bank Contact ❑ Wire ❑ ACH ❑ Both Bank Routing Number (ABA) 121000248 Account Number 4126057041 Contact's Phone Number 940-384-6355 Bank Routing Number (ABA) Account Number Contact's Phone Number 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 6 Texas CI L s Texas Cooperative Liquid Assets Securities System Trust Authorized Contacts Representative and Authorized Signer ®Mr. PMs. Mike Erwin +Print First and Last Name Signature Required merwin@trophyclub.org Email Finance Manager Title 682-237-2912 Phone 682-237-2996 Fax Email Notifications Online Account [Z Monthly Statements [6 Online User Access ®Transaction Confirmations Additional Contact (Optional) 91 Mr. ❑ Ms. Steve Norwood Town Manager irst and Las ame Title f 682-237-2910 *(Signature Required if Authorized Si ner) Phone snorwood@trophyclub.org 682-237-2996 Email Fax Permissions (must check one) [Authorized Signer to Move Funds* ❑ Read -Only Access Additional Contact (Optional) Email Notifications Online Account ❑Monthly Statements [Online User Access [-]Transaction Confirmations ❑ Mr. Z Ms. April Duvall Chief Financial Analyst P�yt First andLsj Name Title U,00LIl.�� ll��,.l�ll�[J 682-237-2914 *(Signature Required if Authorized Signer) Phone aduvall@trophyclub.org 682-237-2996 Email Fax Permissions (must check one) Email Notifications Online Account ❑Authorized Signer to Move Funds* VMonthly Statements S6 Online User Access [Read -Only Access ❑Transaction Confirmations 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass.com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 7 CL�s 0 Texas Cooperative Liquid Assets Securities System Trust Authorized Contacts (cont.) Additional Contact (Optional) EA Mr. ❑ S. Er est Gillespie First and Last Name *(Signs re Required if Authorized Signer) egillespie@trophyclub.org Email Permissions (must check one) ❑ Authorized Signer to Move Funds* 9fl Read -Only Access Additional Contact (Optional) ❑ Mr. pp Ms. Leticia Vacek I — • Pint ' s and Last Name ..�,1,(, AL) Q,r.(� *(Signature Required if uthorized Signer) lvacek@trophyclub. org Email Permissions (must check one) RI Authorized Signer to Move Funds* ❑ Read -Only Access Additional Contact (Optional) XMr. ❑ Ms. Wade L Carroll Print first a Last Name *(Signature Required if Authorized Signer) wcarroll@trophyclub.org Email Permissions (must check one) 56 Authorized Signer to Move Funds* ❑ Read -Only Access Senior Accountant Title 682-237-2910 Phone 682-237-2996 Fax Email Notifications Monthly Statements Transaction Confirmations Town Secretary Title 682-237-2903 Phone 682-237-2996 Fax Email Notifications ❑ Monthly Statements ❑ Transaction Confirmations Online Account 59 Online User Access - Online Account EA Online User Access Assistant Town Manager Title 682-237-2984 Phone 682-237-2996 Fax Email Notifications ❑ Monthly Statements ❑ Transaction Confirmations Online Account R{Online User Access 717 17th Street, Suite 1850 T (800) 707-6242 clientservices@texasclass,com Denver, Colorado 80202 F (855) 848-9910 www.texasclass.com Page 8