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13 RESOLUTION NO. 1979-l0-R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, CREATING A FINANCIAL ADVISORY BOARD; AND ESTABLISHING AN EFFECTIVE DATE. WHEREAS, the Audit Committee of the City Council has recommended that a Standing Committee be created to advise the City Council and the City Manager on matters relating to City finances; now, therefore, I BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART I. That there is hereby created a committee to be known as the Financial Advisory Committee. PART 2. That the committee shall be composed of six (6) members who shall be representatives of the following named financial institutions: First National Bank of San Marcos; Hays County National Bank; State Bank and Trust Company; Austin Savings and Loan Association; San Marcos Office; Balcones Savings and Loan Association; and First Federal Savings and Loan Association. Each institution named above shall designate, by letter to the Mayor of the City of San Marcos, the name of the officer who shall sit as a member of the Commission. PART 3. That the committee shall be an advisory body to the City Council and the City Manager and shall meet to consider and make recommendations on matters of City finances to be determined by said Council and Manager. I PART 4. That the Financial Advisory Committee is not, nor shall be, authorized to incur or create any debt unless prior approval has been obtained from the City Council; nor shall the Committee be empowered to direct finance personnel in the execution of their duties. The members of the committee shall serve without compensation. PART 5. That this resolution shall be in full force and effect upon its passage. ADOPTED this 19th day of February , 1979. ?~~ Mayor ~~ Doriss Hambrick City Secretary APPROVED: I ~~l:~ City Attorney