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434 Form II Investment Agreement THIS INVESTMENT AGREEMENT (together with any amendments and supplements, referred to as this "Agreement") is made and entered into by and among each of those local governments initially executing this Agreement and any other local government that becomes a party hereto (collectively, the "Participants"). WHEREAS, the Interlocal Cooperation Act, Chapter 791 of the Texas Government Code, as amended (the "Act"), permits any "local government" to contract with one or more other "local governments" and with agencies of the state to perform "governmental functions and services," including investing public funds through "public funds investment pools" (as such phrases are defined in the Act); WHEREAS, the Public Funds Investment Act, Texas Government Code, Chapter 2256 (the "Investment Act"), also authorizes local governments, state agencies, and nonprofit corporations acting on behalf of such entities to invest public funds through investment pools; WHEREAS, the Act permits the contracting parties to any agreement to create an administrative agency to supervise the performance of such agreement and to employ personnel and engage in other administrative activities and provide other administrative services necessary to execute the terms of such agreement; WHEREAS, each of the Participants is a local government under the Act and/or the Investment Act; WHEREAS, the Participants' desire to establish and maintain a public funds investment pool as their agency and instrumentality pursuant to the Act for the purpose of pooling their local funds for joint investment in accordance with the Act and the terms hereof; WHEREAS, the Participants' desire that the Pool be managed and operated in a manner consistent with the management and operation of the Texas School Cash Management Program adopted by the Texas Association of School Boards; WHEREAS, each of the Participants has duly taken all official action necessary and appropriate to become a party to this Agreement, including the adoption of a resolution; NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein, the Participants mutually agree as follows: ARTICLE I Definitions and Rules of Construction Section 1.01. Definitions. Except as otherwise provided in this Agreement the capitalized terms used herein shall have the following meanings unless the context otherwise requires: Account--any account established by a Participant and representing an undivided beneficial interest of such Participant in a Fund established as a part of the Pool. Act--the Intedocal Cooperation Act, Chapter 791 of the Texas Government Code, as may be amended from time to time. Additional Party Agreement--a document that, when attached to a copy of this Agreement and executed by an Authorized Representative of a Local Government, constitutes a valid and binding counterpart of this Agreement by' which such Local Government becomes a Participant, substantially in the form attached hereto as an Appendix. 23