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<br /> <br />Texas Local Government Investment Pool <br /> <br />Participation Agreement <br /> <br />PREAMBLE <br /> <br />This participation agreement (the "Agreement") is made and entered into by and between the <br />Comptroller of Public Accounts (the "Comptroller"), acting by and on behalf of the Texas Treasury Safekeeping <br />Trust Company (the "Trust Company"). Trustee of the Texas Local Government Investment Pool (TexPool), and <br />City of San Marcos. Texas (the "Participant"). <br /> <br />WHEREAS, the Interlocal Cooperation Act, TEX GOV'T CODE ANN, ch. 791 and TEX. GOV'T <br />CODE ANN. ch. 2256 (the "Acts") provide for the creation of public funds investment pools to which any local <br />government may delegate, by contract, the authority to hold legal title as custodian and to make investments <br />purchased with local investment funds; <br /> <br />WHEREAS, the Trust Company is a limited purpose trust company authorized pursuant to TEX. GOV'T <br />CODE ANN. 9 404.103 to receive, transfer and disburse money and securities belonging to state agencies and <br />local political subdivisions of the state and for which the Comptroller is the sole officer. director and shareholder; <br /> <br />WHEREAS, TexPool is a public funds investment pool, which funds are invested in certain eligible <br />investments as more fully described hereafter; <br /> <br />WHEREAS; the Participant has determined that it is authorized under the Acts and other applicable law <br />to enter into this Agreement; and <br /> <br />WHEREAS, in an effort to ensure the continued availability of an investment pool as a vehicle for <br />investment of local government funds and simultaneously provide for potential enhancement in services and <br />potential decreases in management and administrative fees, Participant and Trust Company desire to provide in <br />this Agreement for the Trust Company to obtain professional private management services andlor'a potential <br />assignment of the Trust Company's managerial obligations relative to Texpool. <br /> <br />NOW THEREFORE, for and in consideration of the mutual promises, convenants and agreements herein <br />contained, the receipt and sufficiency of which are hereby acknowledged. the parties hereto agree with each other <br />as follows: <br /> <br />Page 1 <br />