~~ Np, 25312
~T~interlocal aQr~nt for
of az`oipation i.n a 7ntcal ative
CooP~
t Invest
MaY 11~ 1998
Vol V Page 639
ORDER N0. 2531
APPROVRL OF RESOLUTION RND RUTHORIZING EXECUTION
OF RN INTERLOCRL RGREEMENT FOR RARTICIPRTION IN R LOCRL
GOVERNMENT INVESTMENT COOPERATIVE
On this day the 11th day of May, 1998 upon motion made by
Commissioner Oehler, seconded by Commissioner Let z, the Court
unanimously approved by a vote of 4-0-0, the resolution
authorizing execution of an Inter Local Agreement for
participation in a Local Government Investment Cooperative and
authorize the County Judge to sign the same.
COMMISSIONERS' COURT AGENDA REQUEST
PLEASE FURNISH ONE ORIGINAL AND FIVE COPIES OF THIS REOL~ST AND DOCUMENTS
TO BE REVIEWED BY THE COURT.
MADE gy. Barbara Nemec
OFFICE: Treasurer
MEETING DATE: May 11, 1998
SUBJECT: (PLEASE BE SPECIFIC)
TIME PREFERRED: A . M .
CONSIDER RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF AN INTERLOCAL
AGREEMENT FOR PARTICIPATION IN A LOCAL GOVERNMENT INVESTMENT COOPERATIVE
AND COUNTY JUDGE TO SIGN SAME.
EXECUTIVE SESSION REQUESTED: (PLEASE STATE REASON)
ESTIMATED LENGTH OF PRESENTATION:
10 mins.
IF PERSONNEL MATTER -NAME OF EMPLOYEE:
NAME OF PERSON ADDRESSING THE COURT: INVESTMENT COMMITTEE
Time for submitting this request for Court to assure that the matter is posted in accordance with Title 5,
Chapter 551 and 552, Government Code, is as follows:
Meeting scheduled for Mondays: 5:00 P.M. previous Monday.
THIS REQUEST RECEIVED BY:
THIS REQUEST RECEIVED ON:

All Agenda Requests will be screened by the County Judge's Office to determine if adequate information has
been prepared for the Court's formal consideration and action at time of Court Meetings. Your cooperation will
be appreciated and contribute towards you request being addressed at the earliest opportunity. See Agenda
Request Rules Adopted by Commissioners' Court.
`~
~ ~....•.
_`~a~;e~ ~ ~~
COUNTY TREASURER
KERR COU NTY COURTHOUSE
KERRVILLE, TEXAS 78028
May 01, 1998
County Judge ~ Commissioners:
As previously discussed Kerr County's portfolio should be further
diversified. I beleive Kerr County would benefit by investing funds
through LOGIC. LOGIC is highly recommended by several county
investment officers.
LOGIC maintains the same primary goals as Kerr County's investment
policy. They are in full compiance with the Public Funds Investment
Act. LOGIC is able to offer safety of principle while still being
able to be competetive in their yield prices. They also offer daily
liquidity on all funds on deposit.
Tommy Tomlinson and I have visited with a representative from LOGIC
and feel the quality of our portfolio would be enhanced. Marie Wendell
will be available to answer any questions you might have.
Sincerely,

Barbara Nemec
Local Government Investment Cooperative Resolution
RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF AN INTERLOCAL
AGREEMENT FOR PARTICIPATION IN A LOCAL GOVERNMENT INVESTMENT
COOPERATIVE (THE "COOPERATIVE"), DESIGNATING THE BOARD OF DIRECTORS OF
THE COOPERATIVE AS AN AGENCY AND INSTRUMENTALITY TO SUPERVISE THE
COOPERATIVE, APPROVING INVESTMENT POLICIES OF THE COOPERATIVE,
APPOINTING AUTHORIZED REPRESENTATIVES AND DESIGNATING INVESTMENT
OFFICERS.
WHEREAS, the Interlocal Cooperation Act, Chapter 791 of the Texas Government Code, as amended (the
"Interlocal Act"), permits any "local government" to contract with one or more other "local governments" to perform
"governmental functions and services", including investment of public funds (as such phrases are defined in the Interlocal
Act);
WHEREAS, the Interlocal Act authorizes the contracting parties to any interlocal agreement to contract with
agencies of the State of Texas, within the meaning of Chapter 771 of the Government Code;
WHEREAS, the Act permits the contracting parties to any interlocal agreement to create an administrative agency
to supervise the performance of such interlocal agreement and to employ personnel and engage in other administrative
activities and provide other administrative services necessary to execute the terms of such interlocal agreement;
WHEREAS, the Public Funds Investment Act, Chapter 2256 of the Texas Government Code, as amended (the
"PFIA"), authorizes the entities described in Subsection (a) of the PFIA to invest their funds in an eligible public funds
investment pool, and the Local Government Investment Cooperative has become and intends to remain an eligible public
funds investment pool, under the terms and conditions set forth in PFIA;
WHEREAS, KERR COUNTY (the "Government Entity')
desires to enter into that certain Interlocal Agreement (the "Agreement"), a copy of which is presented with this Resolution
and is incorporated herein by reference, and to become a participant in a public funds investment pool created thereunder
and under PFIA, to be known as Local Government Investment Cooperative (the "Cooperative");
WHEREAS, the Government Entity is a Government Entity as defined in the Agreement; and
WHEREAS, the Government Entity desires to cause administration of the Cooperative to be performed by a board
of directors (the "Board"), which shall be an administrative agency created under the Interlocal Act; and
WHEREAS, the Government Entity desires to designate the Board as its agency and instrumentality with authority
to supervise performance of the agreement, employ personnel and engage in other administrative activities and provide
other administrative services necessary to execute the terms of the Agreement; and
WHEREAS, each capitalized term used in this Resolution and not otherwise defined has the same meaning
assigned to it in the Agreement;
NOW, THEREFORE, BE IT RESOLVED:
1. The Agreement is hereby approved and adopted and, upon execution thereof by an Authorized
Representative (defined below) and receipt of the Government Entity's application to join the Cooperative by the
Administrator, the Government Entity shall become a Participant in the Cooperative for the purpose of investing its
available funds therein from time to time in accordance with its terms.
2. The Board is hereby designated as an agency and instrumentality of the Government Entity, and the
Board shall have the authority to supervise performance of the Agreement and the Cooperative, employ personnel and
engage in other administrative activities and provide other administrative services necessary to execute the terms of the
Agreement.
3. The investment policies of the Cooperative, as set forth in the document entitled Investment Policies, as
summarized in the Information Statement, and as may be amended from time to time by the Board, are hereby adopted
as investment policies of the Government Entity with respect to money invested in the Cooperative, and any existing
investment policies of the Government Entity in conflict therewith shall not apply to investments in the Cooperative.
4. The following officers, officials or employees of the Government Entity are hereby designated ~as
"Authorized Representatives" within the meaning of the Agreement, with full power and authority to: execute the
Agreement, an application to join the Cooperative and any other documents required to become a Participant; deposit
money to and withdraw money from the Government Entity's Cooperative account from time to time in accordance with
the Agreement and the Information Statement; and take all other actions deemed necessary or appropriate for the
investment of funds of the Government Entity:
Signature:
Printed Name: Barbara Nemec
Title: Kerr County Treasurer
Signature:
Printed Name:
Title:
Signature:
Printed Name:
Title:
In accordance with Cooperative procedures, an Authorized Representative shall promptly notify the Cooperative in
writing of any changes in who is serving as Authorized Representatives.
5. In addition to the foregoing Authorized Representatives, each Investment Officer of the Cooperative
appointed by the Board from time to time is hereby designated as an investment officer of the Government Entity and, as
such, shall have responsibility for investing the share of Cooperative assets representing funds of the Government Entity.
Each depository and custodian appointed by the Board from time to time are hereby designated as a depository and
custodian of the Government Entity for purposes of holding the share of Cooperative assets representing funds of the
Government Entity.
ATTEST:
By:
Judge
f9 98
Printed Name and Title
day of Ma
t Or k---~r gy:
SEAL
PASSED AND APPROVED this 11th
Additional Party Agreement
The Government Entity of the State of Texas named below, acting by and
through the undersigned Authorized representative, hereby agrees to become a party to
that certain Interlocal Agreement to which this page is attached, and thereby become a
Participant in the Local Government Investment Cooperative, subject to all of the terms
and provisions of such Agreement. The undersigned hereby represents that it is a
Government Entity as defined in such Agreement.
Executed this 11th day of MaY 19 98
Kerr County
Name of Government Entity
By:
County Judge
Title
ACCEPTED:
Local Government Investment Cooperative
By:
LOGIC Administrator
Printed Name
Title
Robert A. Denson
Printed Name
LOGIC
Local GOVERNMENT
INVESTMENT COOPERATIVE
• Full compliance with the Public Funds
Investment Act
• Safety of Principal
• Diversification
• Liquidity
• Yield
• Experienced, Conservative Management
• Quality Customer Service
LOGIC Introduction
LOGIC is an investment service for public funds. It offers local governments the opportunity to
join with other public entities to obtain the highest earnings possible on public money under the
safest conditions and providing full compliance with the Public Funds Investment Act.
Additionally, it offers taxpayers at all levels of government the assurance that their tax dollars are
being invested wisely until they aze needed to pay for essential public services.
LOGIC maintains 3 primary goals for public funds:
1. Safety
• Investments aze subject to the strict requirements of the Public Funds Investment Act - H.B. 2459.
• Government securities aze re-priced to mazket daily.
• All repurchase agreements aze collateralized by 102% of U.S. Government securities.
• LOGIC does not invest in derivatives, commercial paper or banker's acceptances.
• Although the local government's money is pooled for investments, it is not co-mingled for any other purpose.
• All money transfers aze sent via prearranged instructions provided by the local government.
2. Liquidity
• Money can be transferred into and out of LOGIC daily.
• There are no charges for wires or ACH transfers.
• Wire transfers receive same day credit. ACH transfers aze credited the next day.
• Same day interfand transfers.
• Direct payments to paying agent accounts.
• Deposits earn interest beginning the day of deposit.
3. Yield
• The rate changes on a daily basis according to mazket conditions.
• The fee of 15 basis points is removed from the gross interest, so all quoted rates aze net of fee.
• There aze no hidden fees, so the participant's yield is maximized.
Additional Features
• Internal security through the use of Personal Identification Numbers (PINS).
• No sign-up fee.
• No minimum balance.
• Unlimited number of accounts.
• No minimum or maximum transaction amount.
• No transaction or additional fees.
• Open to all units of local government.
• Weekly confirmations.
• Monthly statements.
• Monthly newsletters.
• Computer Bulletin Boazd System (BBS).
• Touch-tone telephone trading system.
Required Documentation
• Resolution passed by the governing boazd.
• Additional party agreement.
• Bank information worksheet.
• Local investment policy (for certification).
Addendum to the LOGIC Information Statement
Performance History
Date Factor Rate Interest Balance WAM NAV Clients
May-94	0.000178570	4.3278%	78,254.17	25,285,557.61	85.53	WA	3
Jun-94	0.000125978	4.5882%	188,841.00	50,228,294.11	80.77	WA	5
JuF94	0.000124892	4.5512%	408,731.38	108,247,043.52	84.87	N/A	7
Aug-94	0.000130450	4.7814%	579,527.85	143,057,245.71	87.72	N/A	13
Sep-B4	0.000131824	4.8043%	878,228.31	155,899,153.40	80.88	N/A	i6
pct-9q	0.000134400	4.9056%	859,008.38	158,284,253.88	70.72	0.8993	22
Nov-94	0.000744477	5.2734%	892,072.80	204,938,591.97	88.47	0.9990	31
Deo-84	0.000758891	5.7192%	1,385,953.43	279,594,333.40	54.78	0.9989	37
Jan-95	0.000158807	5.7235%	2,838,714.69	545,328,581.88	41.78	0.8995	42
Feb95	0.000183872	5.9813%	3,698,318.31	805,702,980.80	34.79	1.0000	43
Mar-95	0.000185264	8.0321%	3,321,802.87	847,947,340.78	32.45	1.0002	48
Apr-95	0.000185311	8.0338%	3,352,314.58	875,487,335.78	28.28	1.0002	49
May-95	0.000185614	8.0449%	3,784,171.57	622,183,108.40	23.52	1.0003	51
Jurv95	0.000185785	8.0511%	3,187,982.30	636,938,348.22	18.44	7.0004	51
JuF95	0.000781081	5.6795%	3,527,606.38	708,822,170.94	78.85	1.0003	53
Aug-95	0.000158378	5.7807%	3,190,345.03	649,851,804.38	25.93	7.0001	54
SeP95	0.000158337	5.8317%	2,850,882.30	598,242,723.45	25.41	1.0002	56
Oct-95	0.000156884	5.7449%	3,102,955.05	637,745,098.58	23.72	7.0001	80
Nov-85	0.000157830	5.7683%	2,920,643.02	817,774,948.95	22.28	1.0001	83
DeF85	0.000158884	5.7338%	3,151,147.88	648,770,183.74	16.47	1.0002	64
Jan-88	0.000757222	5.5347%	3,800,007.73	811,234,628.90	10.85	1.0001	71
Feb88	0.000142037	5.1985%	3,190,474.35	774,912,525.81	10.18	1.0002	74
Mar-98	0.000145227	5.3753%	3,334,748.75	741,137,538.75	13.44	1.0000	78
Apr-96	0.000143103	5.2378%	3,297,335.78	788,244,873.32	21.33	7.0000	88
May-96	0.000142671	5.2218%	3,258,818.23	738,328,228.92	37.84	0.9998	95
Jun-96	0.000143492	5.2518%	3,284,931.58	765,480,428.77	35.07	0.9999	103
JuF96	0.000143397	5.2483%	3,502,423.82	787,758,7712.89	29.53	0.9988	713
Aug-86	0.000142882	5.2335%	3,721,326.47	838,585,553.95	29.08	0.8988	717
Sep-96	0.000142481	5.2008%	3,588,095.35	839,181,352.98	31.84	0.9899	124
pct-g8	0.000143227	5.2278%	3,777,928.84	851,138,593.90	29.41	1.0000	127
Nov-98	0.000144787	5.2821%	3,775,052.78	873,089,831.32	33.95	1.0000	135
DeF98	0.000144036	5.2573%	4,064,084.44	809,800,754.68	24.57	0.9998	143
Jan-97	0.000143507	5.2380%	5,584,385.45	1,252,432,783.23	24.88	1.0000	151
Feb-97	0.000142757	5.1887%	5,904,487.58	1,484,483,744.37	31.83	1.0000	180
Mer-97	0.000144751	5.2834%	8,039,598.58	1,345,419,574.09	37.78	0.9898	186
Apr-97	0.000147051	5.3874%	5,471,154.51	1,240,243,985.85	33.71	0.9987	189
May-97	0.000147417	5.3807%	5,185,862.95	1,130,499,529.72	31.08	0.9998	175
Jun-97	0.000148887	5.4271%	4,823,742.45	1,081,584,920.28	27.82	0.9988	179
Jul-97	0.000014859	5.4238%	4,943,118.47	1,073,029,034.18	22.12	1.0000	187
Aug-87	0.000074990	5.4715%	4,357,467.83	938,285,414.06	28.52	0.9899	184
Sep-87	0.000749240	5.4473%	3,865,781.78	882,810,890.29	25.07	1.0000	185
Oct-87	0.000150055	5.4770%	4,510,832.88	988,881,815.70	19.74	1.0000	191
Nov-97	0.000151088	5.5140%	4,177,071.51	921,654,065.771	24.35	1.0000	184
DeF97	0.0001527197	5.5805%	4,322,785.07	911,626,551.43	28.14	0.9989	200
Jen-98	0.000151888	5.5388%	5,505,481.32	1,172,598,833.28	78.78	1.0000	201
FebB6	0.000150353	5.4878%	8,074,622.58	1,443,373,419.83	11.88	1.0000	205
Mar-g8	0.000150548	5.4950%	6,228,380.11	1,334,521,912.34	70.92	1.0000	213
LOGIC operates in compliance with the revised Public Funds Investment Act and discloses yield	calculations In accordance	
with regulations governing the registration of open4nd management investment companies under the Investment Company	
of 1940.							
For the seven day period endetl March 31, 1988, the Liquid Asset Portfolio's yield was 5.584% and its e0ective yield was 5.750%. Born yield figures will fluctuate and ere	
based on histonwl earnings and are not intentled to indicate future peAannence. Yield informe8on is	useful in reviewing a Portfolio's pertormance, but because	
d11
t
t	not prOVltle a D8819 fdf COmpana00 Wlm bank tlepOSl[s or other
InfOrlr189on ma	investments Which pay 8 fixe0	yield fOr a stated	pedOd O/ time.	
ua
e, 9U
yields fluc	y						
LOGIC Expense Ratio		15.0 Basis Points
AAA-V1•		FITCH Investor's Services
$1.00 Net Asset Value Toieronee Range		$.9965 to $1.0035
Investment Advisor		Patterson & Associates
External Auditor		KPMG Peat Marwick LLP
Custodian		Texas Commerce Bank N.A.
Note: An employee of Southwrest Secunaes hea a limited partnership interest In Patterson & Associates.	
The LOGIC Pee was 19.5 BPa prior to 3/1/98, reduced to 17.0 BPa on 05/10/97 end to 16.0 BPS on 9/8/97	
Board of Directors:		
Fred L. Werner	President	City of Grapevine
Philip G. Roberson	V. Pros.lAsst. Sec.	Arlington Ind. School District
Kathy Hynson	TreasurorlASSt. Sec.	Fort Bend County
Raymond E. Woolddge	Secretary	Southwest Securities Group, Inc.
Don A. Buchholz	Asst. Secretary	Southwest Securities Group, Inc.
LOGIC -Local Government Investment Cooperative
Date: 4/3/98 - 213 Participants
Alamo Heights I.S.D.
Alice Water Authority
Alief I.S.D.
Alvin I.S.D.
Amarillo I.S.D.
Arlington I.S.D.
Austin LS.D.
Austin M.U.D. #2
Bastrop I.S.D.
Bell County Water Control
Benbrook W&S Auth.
Bexar Metro Water Dist.
Birdville LS.D.
Bonham I.S.D.
Brazoria County
Brownfield I.S.D.
Brushy Creek M.U.D.
Burleson I.S.D.
Bumet County
Caldwell County
Cash Water Supply Corp.
Castleberry LS.D.
Cedaz Hill LS.D.
Celina LS.D.
Cisco Junior College
City of Alice
City of Alto
City of Arlington
City of Balch Springs
City of Baytown
City of Beaumont
City of Carrollton
City of Cedaz Hill
City of Center
City of Cleburne
City of Colleyville
City of Copperas Cove
City of Dalhart
City of Denton
City of Donna
City of Dumas
City of Duncanville
City of El Paso
City of Euless
City of Friendswood
City of Gazland
City of Georgetown
City of Granbury
City of Grapevine
City of Greenville
City of Haltom City
City of Hazlingen
City of Highland Village
City of Huntsville
City of Hurst
City of Keene
City of Kennedale
City of Killeen
City of La Mazque
City of La Porte
City of Lancaster
City of Lazedo
City of Leon Valley
City of Lubbock
City of Lucas
City of Luling
City of Mazshall
City of Mathis Housing Auth.
City of McKinney
City of McLendon-Chisholm
City of Mesquite
City of Midland
City of Missouri City
City of North Richland Hills
City of NRH/Watauga
City of Odessa
City of Pasadena
City of Plano
City of Port Lavaca
City of Reno
City of Richardson
City of Rockwall
City of Rosenberg
City of Sachse
City of San Mgelo
City of Schertz
City of Seymour
City of Sherman
City of Temple
City of University Park
City of Watauga
City of Waxahachie
City of West
City of Wichita Falls
City of Wylie
Clay County
Clifton I.S.D.
Clint LS.D.
Collin County
Comal LS.D.
Coppell I.S.D.
Copperas Cove I.S.D.
Corrigan-Camden LS.D.
Corsicana LS.D.
Crosbv I.S.D.
ress-Fairbanks LS.D.
as I.S.D.
Valle LS.D.
co Area 911 District
ton County HFC
e Box I.S.D.
ias LS.D.
;anville I.S.D.
e Pass LS.D.
s I.S.D.
r County
r County T.A.C.
County
man I.S.D.
iersville LS.D.
Bend Co. Clerk
Bend County
Bend I.S.D.
Stockton I.S.D.
Worth LS.D.
ericksbure LS.D.
Frenship I.S.D.
Frisco I.S.D.
Galena Pazk I.S.D.
Gary I.S.D.
George West I.S.D.
Glen Rose LS.D.
Goliad County
Goliad I.S.D.
Gonzales LS.D.
Grandfalls Royalty I.S.D.
Grapevine-Colleyville LS.D.
Grayson County
Harlingen W W System
Hays County
Hays Co. Appraisal Dist.
Highland Pazk I.S.D.
Hill College
Hillsboro I.S.D.
Hondo I.S.D.
Hood County
Hull-Daisetta LS.D.
Hurst-Euless-Bedford I.S.D.
Hutto I.S.D.
Irving I.S.D.
Joaquin I.S.D.
Joshua I.S.D.
Keller I.S.D.
Kendall County
Killeen I.S.D.
La Porte I.S.D.
Lake Dallas I.S.D.
Lake Worth I.S.D.
Laredo I.S.D.
Leander I.S.D.
Levelland I.S.D.
Lewisville I.S.D.
Life Mgmt. Ctr. Svc.
Llano County
Llano I.S.D.
Mansfield LS.D.
Marion I.S.D.
Meadows-Chandler Crk MUD
dwestem State University
w Braunfels Utilities
Central Texas COG
Harris Montgomery CCD
~rtheast LS.D.
~rthside LS.D.
~rthwest I.S.D.
N Travis Co. MUD #2
Sham County
sadena Firefighter's RR
sadena I.S.D.
ugerville I.S.D.
of Point I.S.D.
tsburg I.S.D.
~hardson I.S.D.
ckett S.U.D.
ma LS.D.
:S C.LS.D.
n Patricio County
hertz-Cibolo-Univ. City LS.D.
iin I.S.D.
mole I.S.D.
man I.S.D.
h County
mnan I.S.D.
ag Hill LS.D.
an[ Co. WCID #1
n of Addison
n of Fairview
n of Flower Mound
n of Hickory Creek
n of Highland Pazk
Alstyne I.S.D.
oria County
o I.S.D.
nut Creek SUD
ston Springs Water
~b County
to Settlement I.S.D.
tesboro I.S.D.
~azger County
iamson Co. MUD #9
s Point I.S.D.
dham School System