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<br />129
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<br />RESOLUTION 1991- 128R
<br />
<br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY
<br />OF SAN MARCOS, TEXAS, AUTHORIZING THE OPENING
<br />OF ACCOUNTS WITH LIBERTY CAPITAL MARKETS, INC.
<br />FOR THE PURCHASE AND SALE OF SECURITIES OF THE
<br />UNITED STATES GOVERNMENT; AUTHORIZING CERTAIN
<br />CITY OFFICIALS TO ACT AS AGENTS OF THE CITY IN
<br />DEALING WITH LIBERTY CAPITAL MARKETS, INC.;
<br />AND DECLARING AND EFFECTIVE DATE.
<br />
<br />WHEREAS, Sec. 105.072 of the Texas Local Government Code
<br />authorizes the City Council to direct the investment of City funds
<br />that are not immediately required to pay obligations of the City in
<br />direct debt securities of the united States; and,
<br />
<br />WHEREAS, the ci ty desires to engage the
<br />investment firm of Liberty Capital Markets,
<br />assistance to the City staff in the investment
<br />securities of the United States; now, therefore,
<br />
<br />services of the
<br />Inc. to provide
<br />of City funds in
<br />
<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS,
<br />TEXAS:
<br />
<br />PART 1. That the opening of one or more accounts by the City
<br />with Liberty Capital Markets, Inc. for the purpose of purchasing,
<br />investing in, or otherwise acquiring, selling, possessing,
<br />transferring, exchanging or otherwise disposing of, and generally
<br />dealing in any and all forms of direct debt securities of the
<br />united States (including, but not limited to, GNMAs, FHLMCs and
<br />FNMAs) is hereby authorized, and the City Manager, Larry D. Gilley,
<br />is hereby authorized to execute th~ Customer Agreement attached to
<br />this Resolution.
<br />
<br />PART 2. That William L. White, Finance Director, and Wayne
<br />Moore, Budget Officer are each designated as agent of the City of
<br />San Marcos to deal with Liberty Capital Markets, Inc. in connection
<br />with any such account or accounts; that Liberty Capital Markets,
<br />Inc. is authorized to deal with these persons as agents of the
<br />City, and to accept all orders for purchases and sales and all
<br />instructions given by either of them, to receive any funds,
<br />securities, or property for the account of the City, to deliver to
<br />them any funds, securities, or other property held for the account
<br />of the City as either of them shall order in writing, and to send
<br />all confirmations, notices, demands or other communications to them
<br />and to the City Manager, Larry D. Gilley, at 630 E. Hopkins Street,
<br />San Marcos, Texas, 78666.
<br />
<br />PART 3. That this resolution shall become effective
<br />immediately from and after its passage.
<br />
<br />ADOPTED this 14th day
<br />
<br />
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<br />l
<br />Janis K. Womack
<br />City Secretary
<br />
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