1998-036-RES WHEREAS, CHAPTER 2256 OF TEXAS GOVERNMENT CODE

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_. GENERAl GOVERNMENT S 2256.009 Ch. 2256 9 2256.008. Investment Training; Local Governments (a) The treasurer, the chief financial officer if the treasurer is not the chief fin::mcial officer, and the investment officer of a local Q:overnment shall: .. (I) attend' at least one' traininf! session rebtinf! to the treasurer's or .. ... office:'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 bv the Q:overninsr body of the local f!ovemmenr or a desisrnared investme:1t . '- ..... y - cor:nmirree advising the investment officer as provided for in L~e investment policy of the local government. (b) Training under this section must include education in investment con. troIs. security risks, strate2'\' risks, market risks, and comDlbnce with this . IW., . chapte~. Amended bv Acts 1995, i4m Le2:., ch: 402, S 1. ~ff. S~:)t. 1. 1995; Acts 199i, 75th Lez.. ch.1421.(S,eff.Sept.1,199i.- . - "E3C~ rrC3.Sure:. chief financial officer. and investment officer who is in office or who ha.'i :.L~sumed duties on Septe:nbe: 1. 1995, and who would be required by S~ction 2256.00B{a). Gqv. emmem Code, as ::r.mended bv this Act. to at. tcnd investment training withi~ 12 months after ~king office or assuming dutic:s shall attend at least one: training session relating to the: pt:r. Historical and Statutory Notes St:ction g of the 1995 ame:lcl:ltory act pro. son's respor.sibHities uncle: Chaple: 2256. Gov. vides: ei.lme:1t Coae. that mc:e:.s the require:ne:1ts or that section not l.lter than S~i)te:nbe: 1. 199i." Ac!.S 199i. i5th Le~.. ch, 1~21. in subsec. (~;. inse:1ed subdivision desil?nator "( 1 t. sUDsLitut. ed ., subchapter" for" chapter". add~ci sued. (2 J. ~d made othe: nonsubst'?ntivc: ch:l.ng~. For application pro\isions of Acts 199i. i5ln Lc:!!.. ch, 1421. see notes followin2 V.T.C..j... G- C '~i"-'OOi - ove:nme:ll oae:l __;0. _. - ., S 2256.009. Authorized Investments: Obligations of, or Guaranteed by Governmental Entities (a) E"{cept as provided by Subsection (b), the following are authorized inves~"Ilents under this subchapter: (1) oblisrations of the United States or its alZencies and instrumentalities; ... .. (2) direct obligations of this state or its agencies a..'1d instrumentalities; (3) collateralized mUI1srClsre oblisrarions directlv issued by a federal asre:1CV ""--..... . . -. or instrumentality of the United States, the underlying security for which is guaranteed by an agency or instrumentality of the United States; (4) other obligations, the princip:d and interest of which are unconditional- Iv ~aranteed or insured bv, or backed by the full faith and credit of, this . .... .. state or the United States or their respective age~cies and instrumentalities; and (5) oblig:ltions of states, agencies. counties, cities, and other politic:).l subdivisions of any state rated as to investment quality by a nationally '._~.., reco~!1ized investment ratinf! firm not less thi:lD A or its eauivalent. - ... .