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Texas Government Code - Chapter 2256 Public Funds InvestmentLegal Research Home > Texas Laws > Government Code > Texas Government Code - Chapter 2256 Public Funds Investment This chapter may be cited as the Public Funds Investment Act. Amended by Acts 1995, 74th Leg., ch. 402, § 1, eff. Sept. 1, 1995. ... In this chapter: (1) "Bond proceeds" means the proceeds from the sale of bonds, notes, and other obligations issued by an entity, and reserves and ... (a) Each governing body of the following entities may purchase, sell, and invest its funds and funds under its control in investments authorized under this ... (a) This subchapter does not apply to: (1) a public retirement system as defined by Section 802.001; (2) state funds invested as authorized by Section ... (a) The governing body of an investing entity shall adopt by rule, order, ordinance, or resolution, as appropriate, a written investment policy regarding the investment ... (a) Investments shall be made with judgment and care, under prevailing circumstances, that a person of prudence, discretion, and intelligence would exercise in the management ... (a) Each member of the governing board of a state agency and its investment officer shall attend at least one training session relating to the ... (a) Except as provided by Subsections (b) and (e), the treasurer, the chief financial officer if the treasurer is not the chief financial officer, and ... (a) Except as provided by Subsection (b), the following are authorized investments under this subchapter: (1) obligations, including letters of credit, of the United States ... (a) A certificate of deposit or share certificate is an authorized investment under this subchapter if the certificate is issued by a depository institution that ... (a) A fully collateralized repurchase agreement is an authorized investment under this subchapter if the repurchase agreement: (1) has a defined termination date; (2) is ... (a) A securities lending program is an authorized investment under this subchapter if it meets the conditions provided by this section. (b) To qualify as ... A bankers' acceptance is an authorized investment under this subchapter if the bankers' acceptance: (1) has a stated maturity of 270 days or fewer from ... Commercial paper is an authorized investment under this subchapter if the commercial paper: (1) has a stated maturity of 270 days or fewer from the ... (a) A no-load money market mutual fund is an authorized investment under this subchapter if the mutual fund: (1) is registered with and regulated by ... (a) A guaranteed investment contract is an authorized investment for bond proceeds under this subchapter if the guaranteed investment contract: (1) has a defined termination ... (a) An entity may invest its funds and funds under its control through an eligible investment pool if the governing body of the entity by ... An entity is not required to liquidate investments that were authorized investments at the time of purchase. Added by Acts 1995, 74th Leg., ch. 76, ... A public funds investment pool must be continuously rated no lower than AAA or AAA-m or at an equivalent rating by at least one nationally ... In addition to the authorized investments permitted by this subchapter, an institution of higher education may purchase, sell, and invest its funds and funds under ... (a) A municipality that owns a municipal electric utility that is engaged in the distribution and sale of electric energy or natural gas to the ... (a) In this section: (1) "Decommissioning trust" means a trust created to provide the Nuclear Regulatory Commission assurance that funds will be available for decommissioning ... An investment that requires a minimum rating under this subchapter does not qualify as an authorized investment during the period the investment does not have ... Expansion of investment authority granted by this chapter shall require a risk assessment by the state auditor or performed at the direction of the state ... (a) Not less than quarterly, the investment officer shall prepare and submit to the governing body of the entity a written report of investment transactions ... (a) The authority granted by this subchapter is in addition to that granted by other law. Except as provided by Subsection (b), this subchapter does ... The governing body of an entity subject to this subchapter or the designated investment committee of the entity shall, at least annually, review, revise, and ... All investments made by entities must comply with this subchapter and all federal, state, and local statutes, rules, or regulations. Added by Acts 1997, 75th ... Any local government may use electronic means to transfer or invest all funds collected or controlled by the local government. Amended by Acts 1995, 74th ... Notwithstanding any other law, a state agency shall employ a private auditor if authorized by the legislative audit committee either on the committee's initiative or ... The comptroller or the disbursing officer of an agency that has the power to invest assets directly may pay for authorized securities purchased from or ... A security purchased under this chapter may be delivered to the comptroller, a bank, or the board or agency investing its funds. The delivery shall ... At the direction of the comptroller or the agency, a security purchased under this chapter may be deposited in trust with a bank or federal ... Last modified: August 11, 2007 |
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