The Investment Advisor shall: 2.1.1. Be a registered Investment Advisor as defined and regulated by the Securities and Exchange Commission or the Texas State Securities Board; 2.1.2. Be either completely independent of any financial institution or securities brokerage firm; or fully and continuously disclose any relationships with such financial institution or securities brokerage firm, and further disclose any commissions, bonuses, or soft-dollar payments resulting from the firm’s relationship with the City; 2.1.3. Take no possession of City funds or investment securities, nor have access to or control over such funds or securities; 2.1.4. Comply with Texas State law and the ordinances and policies of the City; 2.1.5. Review and recommend changes to the City’s Investment Policy; 2.1.6. Assist in developing and implementing investment strategies that will enhance portfolio performance under current and anticipated changes in market conditions within the parameters of established investment policies and cash flow needs. Make presentations to the City Council, as needed, to support recommendations relating to investment strategy; 2.1.7. Provide non-discretionary management of the City’s investment portfolio by acting solely in an advisory and administrative capacity
