BCRUA_R-09-05-20-8H RESOLUTION NO. R-09-----C6-;?L3�
WHEREAS, the Brushy Creek Regional Util.i ty Authority (BCRUA)
desires to enter into an Application for Participation in Texas
Short Term Asset Reserve Program (TexSTAR) , Now Therefore
BE IT RESOLVED BY THE BRUSHY CREEK REGIONAL UTILITY
AUTHORITY,
That the Board President is hereby authorized and directed to
execute on behalf of the BCRUA an Application for Participation in
Texas Short Term Asset Reserve Program (TexSTAR) , a copy of same
being attached hereto as Exhibit "A" and incorporated herein for all
purposes .
The Board 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 and that such meeting was open to
the public as required by law at all times during which this
Resolution and the subject matter hereof were discussed, considered
and formally acted upon, all as required by the Open Meetings Act,
Chapter 551 , Texas Government Code, as amended.
RESOLVED this 20)day of May, 2,009 .
MITCH FULLS , President
Brushy ek Regional Utility Authority
TEST:
a.rd Secretary ----- -- _^—
00160R69/ikg
COPY
TeXSTARilo
APPLICATION FOR PARTICIPATION IN TUSTAR
The undersigned local government (Applicant) applies and agrees to become a Participant in the Texas Short Term
Asset Reserve Program JaSTAR).
1. Authorization. The governing body of Applicant has duly authorized this application by adopting the
following resolution at a meeting of such governing body duly called, noticed, and held in accordance with the
Texas Open Meeting Law, chapter 551, Texas Government Code, on 20 May , 2009:
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 Short Term Asset Reserve Program (rB(STAR) 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 TEXSTAR and to
enter into the participation agreement authorized herein;
NOW, THEREFORE, BE IT RESOLVED THAT:
SECTION 1. 1 he brm of application for participation in TExSTAR 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 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. The TExSTAR Investment Policy is adopted as Applicant's investment policy, the TEXSTAR
investment officers are designated as Applicant's investment officers, and the TEXSTAR Board is designated
as custodian and depository, in each case for Applicant's public funds and funds under its control that are
deposited with TEXSTAR. Unless Applicant provides a contrary investment policy to "fF-XSTAR, it shall be
Applicant's investment policy that any or all of its public funds and funds under its control may be invested in
and through TEXSTAR_
SECTION 3. 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 TFXSTAR Board.
SECTION 4. Terms used in this resolution have the meanings given to them by the application."
2. Agreement. Applicant agrees with other TEXSTAR Participants and the TEXSTAR Board to the Terms and
Conditions of Participation in TEXSTAR, effective on this date, which are incorporated herein by reference,
Applicant makes the representations, designations, delegations, and representations described in the Terms
and Conditions of Participation.
QC ��.
3. Authorized Representatives. Each of the following Participant officials is designated as Participants
Authorized Representative authorized to give notices and instructions to the Board in accordance with the
Agreement, the Bylaws,the Investment Policy, and the Operating Procedures:
Name Signature Title Direst Phone
Chris Lippe General Manager
-- ........................................
s City Manager,Cedar Park
Brenda Ei I
Anthony Johnson City Manager,Leander
... ........................................ . .......
James R.Nuse City Manager,Round Rocl
....................... ........................................ ............................... ...............
The following Participant official listed above is designated as the Primary Contact and will receive all
TexSTAR correspondence including transaction confirmations and monthly statements [required]:
Name E-mail address
.................................... ............................................
The following Participant official not listed above is designated as a Participant Inquiry Only Representative
authorized to obtain account information [optional]:
Name Signature Rua
......................I.................. ..... .I........I....I.............. .......................I.....I......
....
Applicant may designate other authorized representatives by written instrument signed by an existing
Applicant Authorized Representative or Applicant's chief executive officer.
4. Taxpayer Identification Number. Applicant's taxpayer identification number is ......45-0586920
.:...................
5. Bank Information Sheet(s). The attached ynserf quantity] ............ Bank Information Sheet(s) is or are
approved and incorporated herein by reference to establish account(s) in the name of Applicant.
Dated this ....-.......
May 20,2009
Brushy Creek Regional Utility Authority
(Name of Applicant)
Bv: ....... .....................................
ature of official)
Mitch Fuller,President
(Printed name and title)
Approved and accepted:
TEXAS SHORT TERM ASSET RESERVE FUND
By: FIRST SOUTHWEST ASSET MANAGEMENT, INC.,
Participant Services Administrator
By: ..... ...... ..... ..
y. ........... ... ... .......... ................ ..... .. Date: ........-......... ......
Authorized Signer
DATE: May 15, 2009
SUBJECT: BCRUA Board Meeting— May 20, 2009
ITEM: 8H. Consider a resolution authorizing the President to execute an Application
for Participation in Texas Short Term Asset Reserve Program (TexSTAR).
PRESENTER: Cindy Demers,Assistant City Manager, City of Round Rock
Justification/Background:
The BCRUA will require the ability to invest funds in a short-term investment vehicle in order to
efficiently manage its cash and investment portfolio. All three cities in the BCRUA currently use
TexSTAR for their short-term investment needs. By having the BCRUA maintain accounts at
TexSTAR,the BCRUA will be able to keep cash on hand invested and the cities will be able to transfer
required operating and bond payments directly to the appropriate BCRUA accounts at TexSTAR.
TexSTAR is a local government investment pool created under the Interlocal Cooperation Act
specifically tailored to meet Texas state and local government investment objectives of preservation
of principal, daily liquidity and competitive yield. It is managed by First Southwest and JP Morgan
Chase. The fund is rated AAA by Standard and Poor's and maintains a maturity of 60 days or less,
with a maximum maturity of 13 months for any individual security.The fund seeks to maintain a
constant dollar objective and fulfills all requirements of the Texas PFIA for local government
investment pools.