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<br />-" <br /> <br />~ 2256.018 <br />Repe:lled <br /> <br />GOVER.~l\1E~-r CODE <br />Title 10 <br /> <br />9 2256.018. Repealed by Acts 1997, 75th Leg.. ch. 1421, ~ 15. eff. Sept. 1. <br />1997 <br /> <br />Historical and Starutorv Notes <br /> <br />The repe:l!ed section. pro\'iding for an ad,:iso. Ac~ 1993. 73~d Leg.. ch. 26S. g 1. <br />ry board oluwesunent pools. was de:'ived from: Acts 1995. 74th Le!!.. ch. 76. ~ 5.45(e). CO. <br />Acts 19~7. 70th Leg.. c~. 889. V.T.C.A.. Gove:-nm~nt Code S 2256.014(d). <br />Acts ]9.~. 73rd Leg.. cn. 946.9 1. Acts 100: -'th Lea ch 40' 9 1 <br />Vemon's Ann.Ch'.St. an. 842a-2. S9 2(e). '.-. h ".... -. . <br />3(0. <br /> <br />S 2256.019. Rating of Certain Investment Pools <br /> <br />A public funds investment pool must be continuously rated no lower than <br />fi..AA. or AA.A-m or at an eouivalent rating bv at le2.SL one nationalh' recomized <br />rating service or no lowe'r than invest.';e~t grade bv at least o';e nationally <br />recosinized rating service with a weighted ave;age maturirv no gre::.ter than 90 <br />davs~ - - - .- <br /> <br />A. . db' , T 190:; -...L L" h '0'" r: 5 109-' ,. b' 109- <br />aae \ nCtS '_. /"Wl e_.. c..., _.:; I. e". eDt. 1. , :>. r..me:1aea y...crs , /. <br />75th Leg.. ch. 1421. S 11. efCSe?t. 1. 1997. . <br /> <br />Historical and Starutory Notes <br /> <br />Acts 1997. 75th Le!!.. ch. !421 inse:-ted "or no For aooiic:nion provisions of Acts 1997. 75t., <br /> <br />lowe: than invesune:'ll grade by at least one Le!!.. ch: g21. see notes followine V.T.C.A.. <br /> <br />nat.i~naqy recognizee r:'ting se:-,'ice with a Go~'e~me:ll Code 9 2256.002. - <br />we:2:1tea ave:-:l2e matu:"lt'v no ~!"ez.te:- than 90 <br />cays". - -- <br /> <br />S 2256.020. Authorized Investments: Institutions of ~igher Education <br /> <br />In addition to the authorized inveSL"ne'nts permitted by !pis subchapter. an <br />institution of higher education may purchase. sell. and invest its funds and <br />funds under its control in the following: <br />. - <br />(1) cash management and 'fi;"{ed income .funds sDonsored bv organizations <br />exempt from fed;ral income ta;"{ation under Sectio~ 501(f). I;tern~ Revenue <br />Code of 1986 (26 U.S.C. Section SOl(f)); <br />(2) negotiable certificates or deDOsit issued bv a bank that has a certificate <br />of deposit rating of at le2.St r 'or the equivaleilt by a nationally recognhed <br />credit rating agency or that is associated with a holding companv having a <br />commercial-paper ;ating of at le2.St J\-1. P-l, or the equf~alent-by.a national- <br />ly recognized credit rating agency; and <br />(3) corporate boncls. debentures. or similar debt obligations rated by a <br />nationallv recosmized investment rating firm in one of the two highest long- <br />term rating cat~gories. without re~ard -to gradations within those categories. <br />- - - . - .- <br /> <br />Added by Acts 1993. 74th Leg.. ch. 402. 9 1. eff.Se?t. 1. 1993. <br /> <br />J <br /> <br />, <br /> <br />, <br /> <br />ActS 1987. 70th Le:!.. clL. 889. <br />1080 -1 L - . ',q. 1 <br />Ac~ .. _.' 51 e!!.. en. 0.. -.:::s . <br />Ac:s 1989. 71$1 Le;~. cn. 750. ~ 1. <br /> <br />Historic:t1 and Statutory Notes <br /> <br />Acts 1993. 7::rd Leg.. cn. 946. 9 1. <br />Vo",on's Ann.Civ.SL an. 8423-2. ~ 2(b). <br />Acts 1993. 7::rdug.. cn. 268. 9 1. <br />Ac:s 1995. 7eth L02.. en. 76. 9 5.45(d). (I). <br />V.T.C.A.. Gove~me:n Code 9 2256.012. <br /> <br />.--+ <br /> <br />Prior L.3ws: <br />