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TEXAS PUBLIC FUNDS INVESTMENT ACT ACKNOWLEDGMENT AND CERTIFICATION This Acknowledgment and Certification is executed on behalf of City of San Marcos ("Investor") and ("Dealer") pursuant to the Public Funds Investment Act, Chapter 2256, Government Code, Texas Codes Annotated (the "Act"), in connection with Investments transactions conducted between the Investor and the Dealer. Acknowledgment by Investor The undersigned investment officer of the Investor (the "Investment Officer") hereby acknowledges, represents and agrees on behalf of the Investor that: (i) The Investment Officer (s) has been duly designated by official action of the governing body of the Investor to act as its Investment Officer pursuant to the Act, (b) is vested with full power and authority under the Act and other applicable law (collectively, the "Authorized Investments Law") to engage in investment activities on behalf of the Investor and to perform all obligations in connection therewith, and (c) is duly authorized to execute this Acknowledgment on behalf of the Investor; (ii) Pursuant to the Act, the governing body of the Investor has duly adopted a written investment policy, including an investment strategy (as the same may be amended, the "Investment Policy"), and the Investment Officer (a) has furnished a true and correct copy of the Investment Policy to the Dealer and (b) will promptly notify the Dealer of any recission of, or amendment to, the Investment Policy, provided that the Dealer shall be entitled to rely upon the most recent version of the Investment Policy furnished by the Investment Officer; (iii) The Investor has implemented reasonable procedures and controls in an effort to preclude imprudent investment activities arising out of Investment transactions with the Dealer, and prior to entering into an Investment transaction with the Dealer, the Investment Officer will determine that the contemplated investment is authorized under the Authorized Investments Law and is consistent with the Investment Policy; and (iv) In connection with any investment transaction between the Dealer and the Investor, the Dealer (a) is acting as a principal and at arm's length to the Investor, (b) is neither an investment advisor nor a fiduciary to the Investor, and (c) is not responsible for assuring compliance with those aspects of the Authorized Investments Law or the Investment Policy over which the Dealer has no control or knowledge, such as restrictions as to diversity and average maturity. 630 East Hopkins. San Marcos, Texas 78666. Phone 512/393/8170 . Fax 512/392-4612 City of San Marcos Cash Management and Investment Policy Page 19 of 24