2026-012 - Allowing the City to participate in Texas Cooperative Liquid Assets Securities System Trust (CLASS) for Local Government Investment Pool

Home Browse Search

mexas Resolution No. 2026-0I2 m City of Paris, Texas CL�n$s Texas Cooperative Uquid Assets Securities System Trust Resolut~ol'i to P&i-t~c~pate 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 City ofParis, Texas (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 tothe degree consistent with legality, safety, and liquidity; and WHEREAS, pursuant to the Policy and the Act the Local Government has appointed Finance Director - (the Investment Officer) to act as the investment officer of the Local Government; and WHEREAS, the Act provides that funds under the control of 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 April 2021 (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) ofthe 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 ofinvestment transactions conducted between the Local Government and the Program; and WHEREAS, the Local Government understands that the Program operates through the Tenth Amended and Restated Trust Agreement dated as of February 25, 2021 (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 ofUNB Bank as custodian (the Custodian); 717 I7thStreet, Suite 1850 dientserv|ces@texasdass.com Denver, Co(oedn8O2UZ T(8O�) 7O7 -634Z www.texasdass.com F(85�)848-991U Form Version O]V2O25 pages