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<br />interest-earning potential <br />Section "A" above. <br /> <br />similar <br /> <br />to <br /> <br />that <br /> <br />described <br /> <br />in <br /> <br />"Interim" financing instruments, such as Bond Anticipation <br />Notes (BANs), often offer the City not only the opportunity to <br />earn significant legal arbitrage profits, but the flexibility <br />to react in a more timely manner to the ever-changing, <br />long-term debt environment. <br /> <br />The Finance Department will, from time to time, recommend to the City <br />Manager, Mayor, and the City Council various financing opportunities <br />which should be of ultimate financial and operational benefit to the <br />Ci ty and its taxpayers. The Department will constantly monitor thp <br />City's existing and potential financing alternatives to ensure that ful. <br />advantage is being taken of the special municipal financing authoritJ <br />available to the City. <br /> <br />C. <br /> <br />VI. <br /> <br />LEGAL LIMITATIONS AND AUTHORITIES <br /> <br />A. <br /> <br />The City is governed by Article 842a, Public Funds Investment <br />Act of 1987. A complete copy is attached in Appendix A. A <br />synopsis of other state and local statues governing city <br />depositories and banking services is included in Appendix B. <br /> <br />B. <br /> <br />The following positions <br />banking transactions. <br />signatures. <br /> <br />are authorized signatories on all <br />All transactions require two <br /> <br />1. <br />2. <br />3. <br />4. <br /> <br />City Manager <br />Assistant City Manager <br />Director of Finance <br />Budget Officer <br /> <br />C. <br /> <br />The City Manager has been delegated the authority to invest <br />and deposit City funds under Article IV, Section 4.01c of the <br />San Marcos City Charter. <br /> <br />7 <br />