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• RESOLUTION 2008-75R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS, ADOPTING A REVISED CITY INVESTMENT <br />POLICY AND DECLARING AN EFFECTIVE DATE. <br />RECITALS: <br />1. The Texas Government Code §2256.005 requires the City Council to adopt a <br />written policy regarding the investment of City funds and funds under City control. <br />2. On February 5, 2008 the City Council adopted a revised City of San Marcos <br />Investment Policy. <br />3. Due to current market conditions, and in order to allow for more favorable <br />investment options and a higher return to maintain safety and liquidity, City staff recommends <br />that the current Investment Policy be revised to increase from two years to five years the stated <br />final maturity for authorized investments and to increase from one year to two years on <br />certificates of deposit when investing the City's reserve funds. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. The revised City of San Marcos Investment Policy attached to this <br />Resolution is approved and adopted. <br />PART 2. This Resolution shall be in full force and effect from and after its passage <br />and will remain in effect unless subsequently repealed or otherwise amended. <br />ADOPTED this the 20th day of May, 2008. <br />Susan Narvaiz <br />Mayor <br />Attest: <br />Sherry Mas burn <br />City Clerk <br />• <br />