1999-003-CHAPTER 2256 OF THE TEXAS GOVERNMENT CODE, PUBLIC FUND INVESTMENT ACT

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