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may pay for authorized securities purchased from or through a member in good standing of the National Association of Securities Dealers or fi'om or through a national or state bank on receiving an invoice from the seller of the securities showing that the securities have been purchased by the board or agency and that the amount to be paid for the securities is just, due and unpaid. A purchase of securities may not be made at a price that exceeds the existing market value of the securities. Sec. 2256.054 Delivery of Securities Purchased by State. A security purchased under this chapter may be delivered to the comptroller, a bank, or the board or agency investing its funds. The delivery shall be made under normal and recognized practices in the securities and banking industries, including the book entry procedure of the Federal Reserve Bank. Sec. 2256.055 Deposit of Securities Purchased By State. At the direction of the comptroller or the agency, a secm'ity purchased under this Chapter may be deposited in trust with a bank or federal reserve bank or branch designated by the comptroller, whether in or outside the state. The deposit shall be held in the entity's name as evidenced by a trust receipt of the bank with which the securities are deposited. See. 2256.056 Compliance with Other Laws Notwithstanding any other law, a municipality with a population of less than 50,000 may not issue for any purpose or cause to be issued in its behalf any installment sale obligation or lease-pumhase obligation having the principal amount of $1 million or more without complying with the provisions of Section 3.002, Chapter 53, Acts of the 70th Legislature, 2nd Called Session, 1987 (Article 717k-8, Vernon's Texas Civil Statutes), regardless of whether the obligation was issued individually or in a series of related transactions, or whether the obligation was issued with no recourse. City of San Marcos Investment Policy Page 32