R-2119-12-02RESOLUTION NO. 2119-12-02(R)
' A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, DESIGNATING AND AUTHORIZING CITY
REPRESENTATIVES TO CONDUCT TRANSACTIONS WITH J.P. MORGAN
INSTITUTIONAL INVESTMENTS INC.; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Allen C the Organization") has Interest and Sinking accounts with J.P. MorganChase
("JPMC") for the funding of annual debt service payments as required by bond covenants, and;
WHEREAS, effective January 6, 2003, transactions currently conducted through JPMC will be handled by an
affiliate, J.P. Morgan Institutional Investments Inc. ("JPM11") and;
WHEREAS, it is necessary for the City to establish an account with JPMU and authorize certain City officials
to delegate the authority granted under this Resolution.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
COLLIN COUNTY, TEXAS, THAT:
SECTION 1: AUTHORIZATION.
A. SIGNERS.
Listed below, by names or titles, are the officers authorized to sign or act pursuant to the resolutions indicated
below (signers must be identified in each resolution as passed.) Also, each signer may act singly unless that
word is crossed out below and the word 'Jointly" is written in, which means that any two signers must act
jointly.
Name and Title
Kevin Hammeke,
Finance Director
Joanne Stoehr,
Assistant Finance Director
Vivian Leverington,
Senior Accountant
B. BROKERAGE.
1. The City Council authorizes those persons identified above, acting in the manner specified
therein, be and each hereby is authorized, in the mune and on behalf of the Organization: to purchase, sell and to
otherwise enter into transactions with J.P. Morgan Institutional Investments Inc. with respect to any shares,
stocks, bonds, debentures, notes; and to establish and operate one or more brokerage accounts in connection
with the foregoing activities and transactions; and to enter into, complete and execute agreements; and to take
other actions, including but not limited to, signing reconcilements of accounts and other documents to carry out
' the purpose of this resolution.
2. Except as otherwise provided by a written agreement between the Organization and JPMB, that
each of those individuals identified above, acting in the manner specified therein, is hereby authorized to give
instructions to JPMII in writing or by telephone, facsimile transmission, telegram, teletype, electronic means, or
otherwise, with respect to the transactions authorized by the resolution numbered IA, including (without
limitation) instructions to pay, deliver or transfer property or cash of the Organization to any third party
' whatsoever.
3. JPM I is hereby authorized to instruct any of its affiliates or subsidiaries to pay to it funds from
accounts of the Organization and/or to release securities of the Organization held by such affiliate or subsidiary
in connection with any transactions authorized by the resolution numbered IA.
C. GENERAL.
1. Except as otherwise provided by any agreement between the Organization and JPN% that
JPMII shall have no liability with respect to any action taken or omitted to be taken by it in accordance with any
direction, instruction, request or order whether given orally or otherwise, which JPMII believes in good faith to
have been given or made to it by a duly authorized officer, agent or employee ("Authorized Person') of the
Organization even if payment m delivery of securities or other property is made to the order of or is credited to
any Authorized Person or in respect of an Authorized Person's obligation, or creates a loan by JPMD to the
Organization.
2. Those individuals identified above, acting in the manner specified therein, are authorized to
delegate the authority granted under the foregoing resolutions to any other person by written appointment
submitted to JPMII and any such appointment shall remain in full force and effect until JPMII shall receive
written notice to the contrary from the Organization.
3. Any transaction of the type authorized by the preceding resolutions which has been taken are
hereby in all respects approved, confirmed and ratified.
4. Any resolution certified to JPM I by the Secretary, or other duly appointed officer of the
Organization shall remain in full force and effect until JPM1I shall receive certification of a subsequent
resolution amending, superseding or revoking it.
D. TRANSMITTAL OF CERTIFIED COPY.
The City Secretary is directed to provide a certified copy of the resolution to JPMII after final passage hereof.
SECTION 2: EFFECTIVE DATE.
This resolution shall become effective immediately upon passage.
DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, ON THIS THE 10r" DAY OF DECEMBER, 2002.
APPROVED:
(^fin
Steve Terrell, MAYOR
ATTEST:
Ju orri , CMC/MMCA, CITY SECRETARY
Resolution No. 2119-12-02(R), Page 2