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84 Regular Meeting December 12, 1988 Page 6 diversification of risk is needed. He stated money market funds were set up for short-term investments. He stated there were pros and cons to some of the proposed legislation, and that some constitutional questions arise; but the creation of the legislation is to provide temporary relief and is a commitment by Congress to try to create solutions. R. G. Phillips expressed concern that there is no substance to a letter of credit of the Federal Home Loan Bank. The Council will consider adoption of a policy in January, will decide on investment options using staff or an outside firm and what impact the various options will have. Mr. Nitchalous stated First Southwest Company will be happy to assist the Council with this matter, and Jim Rutherford of Hays County National Bank stated they would like to present some options to the Council. Mr. Hernandez moved the Council adjourn into Executive Session pursuant to Article 6252-17, Sections 2(e) and (g), V.A.C.S., to discuss matters where the duties of the City Attorney to the City pursuant to the Code of Professional Responsibility of the State Bar of Texas clearly conflicts with Article 6252-17; and evaluation of a public employee (Council appointees) and duties of a public officer or employee, respectively, and Mr. Moore seconded the motion, which passed unanimously (10:45 p.m.). Ms. Kissler moved the Council reconvene at 2:05 a.m. and Mr. Hernandez seconded the motion, which passed unanimously. The meeting adjourned at 2:07 a.m. on motion made by Ms. Kissler and seconded by Mr. Hernandez. ~;~ Billy G. Moore Council Member Y I ¿J, Ä1éAWV- ~~ W. Brown Council Member M~or - A . ") 1:#,' , ¡.;'/;/ I /,0 . ./J'" .I ~ L ""'t"\..-~--.,.c:.' / " Rick Hernande¿ ~u,:il .Me~ ~ra Mayor Pro-Tern D~ 8'. ~ Betty Jane Kissler Council Member ATTEST: , ~,j) /' J ~ÎJ/ì}~/c1J.. f}Yh.~) J'nis K. Womack City Secretary Bill Plummer Council Member