The Investment Advisor Shall: 6.1. Be a registered Investment Advisor as defined and regulated by the Securities and Exchange Commission and be registered with the Texas State Securities Board. 6.2. Be either: 6.2.1. Completely independent of any financial institution or securities brokerage firm; or 6.2.2. Fully and continuously disclose any relationships with such financial institution(s) and/or securities brokerage firm(s), and further disclose any commissions, bonuses, or soft-dollar payments resulting from the firm’s relationship with the City. 6.3. The chosen firm will be responsible for providing non-discretionary management of the portion of the City’s investment portfolio under advisement. 6.4. Comply with all federal and state laws and ordinances, resolutions, and policies of the City. 6.5. Help develop and implement investment strategies that will maintain or enhance portfolio quality and performance within the parameters of the City’s established policies and cash flow needs, taking into consideration the City’s primary objective of preservation of capital. 6.6. Work with City staff to assure coordination of investment trades, delivery of the securities, and availability of funds. Assist with trade settlements. Obtain and document competitive prices for securities transactions. Provide technical and fundamental market research, including yield curve analysis. 6.7. Perform due diligence reviews of current and proposed broker/dealers and financial institutions; monitor the credit worthiness of the broker/dealers with which the City does business; assist in keeping the authorized broker/dealer list updated; and monitor the creditworthiness of the City’s depository and custodian bank and investments in the portfolio. 6.8. Monitor transfers from and to the Local Government Investment Pool. 6.9. Provide detailed reports of investment portfolio activity, performance, and evaluation on a monthly, quarterly, and annual basis. Include earnings and accounting methodology. Reports shall follow Generally Accepted Accounting Principles (GAAP) and Governmental Accounting Standards Board (GASB) fair market value reporting. 6.10. Provide City staff with ongoing training and technical advice, as needed. 6.11. Meet with and provide information to City staff and City Commissioners, a minimum of once a year, and be available to provide additional information, if needed. Meet periodically with staff to review and refine portfolio strategy and performance.