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1999-003-CHAPTER 2256 OF THE TEXAS GOVERNMENT CODE, PUBLIC FUND INVESTMENT ACT
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1999-003-CHAPTER 2256 OF THE TEXAS GOVERNMENT CODE, PUBLIC FUND INVESTMENT ACT
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8/18/2006 4:30:27 PM
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CITY CLERK
Doc Name
1999
Doc Type
Resolution
CITY CLERK - Date
1/11/1999
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<br />~. .. <br /> <br />GEl'lERAL GOVERNML'IT <br />Ch. 2256 <br /> <br />~ 2256.008. Investment Training; Loc.a.l Governments <br /> <br />(a) The treasurf'r, the chief financial officer if the treasurer is not the. ~hief <br />financial officer, and the investment officer of a local government shall: <br /> <br />(I) attend' at least on~' training session relating to the treasurer's or <br />officer's responsibilities under this subchapter within 12 months after taking <br />office or assuming duties; and ' <br /> <br />(2) attend an investment training session not less than once in a two-year <br />period and receive not less than 10 hcurs of instruction relating to investment <br />responsibilities under this subchapter from an independent source approved <br />by the gov~rning body of the local government or a designated investme:lt <br />cornminee advising the investment officer as provided for in Ll-je investment <br />policy of the local government. <br /> <br />(b) Training under this section must include education in investment con- <br />trols. security. risks, su-ategy risks, market risks, and compli::mce with this <br />chapter. <br /> <br />S 2256.009 <br /> <br />Amc:ncied bv Acts 1995, i4th Leg., ch: 402, S 1. df. Sc:?t. I, 1995; Acts 199i, 75th Le~.. <br />ch. 1421. S '5, eff. Sept. 1. 199i.- <br /> <br />"Eac!> O"e3.Sure~. chief financial oflice~. and <br />invesunent officer who is in office or who h:L~ <br />,,-..umed duties on 5eDte:nbe~ 1. 1995. and who <br />would be required by'S"ction 2256.008(3), Gov. <br />ernment Code. as :lIDended bv this Act. to at. <br />lend investment trainin!! withi~ 12 months afte~ <br />uking office or assumi;;g duti"s shall attend at <br />least on" =ining .session relating to the per. <br /> <br />Historical and Statutory Notes <br /> <br />amend:ltory act pro. son's responsibiiities unde:" Ch2.pte:- 22':6, Gov. <br />e:-:lme:lt Coae. that mc:e:.s the reouire:ne:"1ts of <br />that section not l;lte~ than Se?le:nbe~ 1. 199;," <br />Ac!S 199;. 7~th Le~.. ch. 1':21. in subsec. IOli. <br />inse:1ed subdivision desien2.tor U( 1 r'. suo~du!t. <br />cd "subchapter" for "chapler". added subd. (2 l. <br />:LnQ m2.de otne:- nOn.5ubsunu\'t: ch:mg~. <br />For application pro\isions of Acts 199;. ;~th <br />LeI!.. ch. 1421. se: not:s followin!! V.T.e.A.. <br />G()~'e:nme:Jt Code 9 22~6.002. - <br /> <br />J <br /> <br />S"ction 8 of the 199~ <br />vi des: <br /> <br />... <br /> <br />S 2256.009. Authorized Investments: Obligations of. or Guaranteed by <br />Governmental Entities <br /> <br />(a) Except as provided by Subsection (b), the following are authorized <br />inyesu.-nents under this subchapter: <br />(1) obligations of the United States or its agencies and instrumentalities; <br />(2) direct obligations of this state or its agencies a.'ld instrumentalities; <br />(3) collateralized murtga!!:e obligations directlv issued bv a federal :l!Ze:1CV <br />or insn:umemality of the -U;Uted States, the und'erlying se~uIiry for which is <br />guaranteed by an agency or instrumemality of the United States; . <br />(4) other obligations, the principal and interest of which are unconditional- <br />Iv !2:Uaranteed or insured by, or backed by the full faith and credit of, this. <br />s-t:l.~e or the United States ;r their respective agencies and instrUm~ntaJities; <br />and. . <br /> <br />(5). ~b.ligation$ of states. agencies. c?,untie::... cities, ?nd othe.r. P?liti~aJ ....J.- <br />subdlV1s10ns of any state rated as to Investment quahry by a natlonally _ <br />recognized investment ratin!!: firm not less than A or its eouivalent. <br />- - . <br />
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