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<br />GOVERNMENT CODE <br />CHAPTER 2256. PUBLIC FUNDS INVESTMENT <br />SUBCHAPTER A. AUTHORIZED INVESTMENTS FOR GOVERNMENTAL ENTITIES <br />Sec. 2256.001. SHORT TITLE. This chapter may be cited as the <br />Public Funds Investment Act. <br />Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, <br />1995. <br />Sec. 2256.002. DEFINITIONS. In this chapter: <br />(1) "Bond proceeds" means the proceeds from the sale of <br />bonds, notes, and other obligations issued by an entity, and <br />reserves and funds maintained by an entity for debt service <br />purposes. <br /> <br />(2) "Book value" means the original acquisition cost of <br />an investment plus or minus the accrued amortization or accretion. <br />(3) "Funds" means public funds in the custody of a state <br />agency or local government that: <br />(A) are not required by law to be deposited in the <br />state treasury; and <br />(B) the investing entity has authority to invest. <br />(4) "Institution of higher education" has the meanIng <br />assigned by Section 61.003, Education Code. <br />(5) "Investing entity" and "entity" mean an entity <br />subject to this chapter and described by Section 2256.003. <br />(6) "Investment pool" means an entity created under this <br />code to invest public funds jointly on behalf of the entities that <br />participate in the pool and whose investment objectives in order of <br />priority are: <br /> <br />(A) preservation and safety of principal; <br />(B) liquidity; and <br />(C) yield. <br />(7) "Local government" means a municipality, a county, a <br />school district, a district or authority created under Section <br />52 (b) (1) or (2), Article III, or Section 59, Article XVI, Texas <br />Constitution, a fresh water supply district, a hospital district, <br />and any political subdivision, authority, public corporation, body <br />politic, or instrumentality of the State of Texas, and any <br />nonprofit corporation acting on behalf of any of those entities. <br />(8) "Market value" means the current face or par value <br />of an investment multiplied by the net selling price of the <br />security as quoted by a recognized market pricing source quoted on <br />the valuation date. <br />(9) "Pooled fund group" means an internally created fund <br />of an investing entity in which one or more institutional accounts <br />of the investing entity are invested. <br />(10) "Qualified representative" means a person who holds <br />a position with a business organization, who is authorized to act <br />on behalf of the business organization, and who is one of the <br />following: <br />(A) for a business organization doing business that <br />is regulated by or registered with a securities commission, a <br /> <br />EXHIBIT A <br />