Office of the Superintendent of Schools
Office of Finance and Operations
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Approval Of Resolution Designating Officers And Administrators Authorized To Act On Behalf Of The Houston Independent School District In All Matters In Connection With Depository Contract And Other Banking And Investment Transactions
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The School Board designates through a resolution the officers and administrators who will be authorized to act on behalf of the district in depository contract matters and all other banking and investment transactions that include the following:
* Signing of payroll and operating accounts
* Approval for funds transfers between the district's bank accounts
* Approval of funds disbursement and interbank transfers via Automatic Clearing House or wire transfers
* Acceptance or release of securities for collateralization of funds at the depository bank
* Investments-purchase and sale of treasury or agency securities, commercial paper, and any other investments authorized by the district's CDA(LOCAL) policy
* Investments-deposits to and withdrawals from TexPool, Lone Star Investment Pool, TexSTAR, and other authorized investment pools and money-market funds
* Other banking matters such as (1) use of other banking services for processing of claims and (2) the pledge, release, and substitution of collateral securities
* Miscellaneous other banking matters
Approval of this resolution is to ensure legal authorization for the district officers and administrators to deal with the depository contract and all other banking and investment matters on behalf of the district.
COST/FUNDING SOURCE(S):
None
STAFFING IMPLICATIONS:
None
THIS ITEM DOES NOT ESTABLISH, MODIFY, OR DELETE BOARD POLICY.
recommendation
RECOMMENDED: That the School Board approves the Resolution Designating Officers and Administrators Authorized to Act on Behalf of the Houston Independent School District in All Matters in Connection with Depository Contract and Other Banking and Inves...
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