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RESOLUTION 2008- 14 R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS, ADOPTING A REVISED INVESTMENT POLICY; AND <br />DECLARING AN EFFECTIVE DATE. <br />RECITALS: <br />1. The Texas Government Code §2256.005 requires the City Council to adopt a <br />written policy regarding the investment of City funds and funds under City control. <br />2. The Finance Director, Rosie Vela, has recommended the adoption of the City of <br />San Marcos Investment Policy attached to this resolution, which includes revisions to Section VI, <br />Delegation of Authority to add the Assistant City Manager to the Investment Committee, Section <br />XV, Performance Standards, to revise the maximum weighted average maturity to 270 days, and <br />Section XIII, Diversification, to increase the amount of the City's portfolio to be invested in <br />Certificates of Deposit to 25 percent. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. The revised City of San Marcos Investment Policy attached to this <br />Resolution is approved and adopted. <br />PART 2. This Resolution shall be in full force and effect from and after its passage <br />and will remain in effect unless subsequently repealed or otherwise amended. <br />ADOPTED this the 5th day of February , 2008. <br />.~ <br />Susan Narvaiz <br />Mayor <br />Attest: <br />1 <br />Shelley Goodw <br />Interim City Clerk <br />