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<br /> lilY <br /> - <br /> TEXAS PUBLIC FUNDS INVESTMENT ACT <br /> ACKNOWLEDGMENT AND CERTIFICATION <br /> This Acknowledgment and Certification is executed on behalf of City of San Marcos and <br /> (the "Dealer") pursuant to the Public Funds Investment Act, Chapter 2256, <br /> Government Code, Texas Codes Annotated (the "Act"), in connection with Investments transactions <br /> conducted between the Investor and the Dealer. <br /> - <br /> Acknowledament by Investor <br /> <br /> The undersigned investment officer of the Investor (the "Investment Officer")hereby <br /> acknowledges, represents and agrees on behalf of the Investor that: <br /> (I) The Investment Officer(s) has been duly designated by official action of the governing <br /> body of the Investor to act as its Investment Officer pursuant to the Act, (b) is vested with <br /> full power and authority under the Act and other applicable law (collectively, the <br /> "Authorized Investments Law") to engage in investment activities on behalf of the Investor <br /> and to perform all obligations in connection therewith, and @ is duly authorized to <br /> execute this Acknowledgment on behalf of the Investor; <br /> (ii) Pursuant to the Act, the governing body of the Investor has duly adopted a written <br /> investment policy, including an investment strategy (as the same may be amended, the <br /> "Investment Policy"), and the Investment Officer (a) has furnished a true and correct copy <br /> of the Investment Policy to the Dealer and (b) will promptly notify the Dealer of ariy <br /> recision of, or amendment to, the Investment Policy, provided that the Dealer shall be <br /> entitled to rely upon the most recent version of the Investment Policy furnished by the <br /> Investment Officer; <br /> (iii) The Investor has implemented reasonable procedures and controls in an effort to <br /> preclude imprudent investment activities arising out of Investment transactions with the <br /> Dealer, and prior to entering into an Investment transactions with the Dealer, the <br /> Investment Officer will determine that the contemplated investment is authorized under <br /> the Authorized Investments Law and is consistent with the Investment Policy; and <br /> (iv) In connection with any investment transaction between the Dealer and the Investor, the <br /> Dealer (a) is acting as a principal and at arm's length to the Investor, (b) is neither an <br /> investment advisor nor a fiduciary to the Investor, and @ is not responsible for assuring <br /> compliance with those aspects of the Authorized Investments Law or the Investment <br /> Policy over which the Dealer has no control or knowledge, such as restrictions as to <br /> diversity and average maturity. <br /> Certification by Dealer <br /> <br /> In reliance upon the foregoing "Acknowledgment by Investor", the undersigned registered principal <br /> of the Dealer (the "Dealer Representative") hereby certifies on behalf of the Dealer that: <br /> 630 East Hopkins. San Marcos, Texas 78666 . 512/393-8000 . FA."X 512/392-4612 <br /> 24 <br />