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<br />GENERAL GOVERNMENf <br />Ch. 2256 <br /> <br />(4) the price of the guaranteed investment contract must take into account <br />the reasonably expected drawdown schedule for the bond proceeds to be <br />invested; and ' <br /> <br />(5) the provider must ~enify the administrative costs reasonably expected <br />to be paid to third panies in connection with the guaranteed investment <br />Contract. <br /> <br />S 2256.016 <br /> <br />Amended by Acts 1995. 74th Leg., ch. 402. S 1. eff. Sept. I, 1995; Acts 1997, 75th Leg., <br />ch. 1421, 9 8, eff. S~pt. 1, 1997. ' <br /> <br />Historical and Statutory Notes <br /> <br />Ac!.S 199i, i5lh Leg.. ch. 1421. in Lhe section' For applic:ltion provisions of Ac!.S ! 99i. i5th <br />heading, inserted "for State Agencies". Lel!.. ch. 1421. see notes following V.T.e.A.. <br />Gove:-i1me:u Code 9 2250.002. - <br /> <br />S 2256.016. Authorized Investments: Investment Pools <br /> <br />(a) An entity may invest its funds and funds under its control through an <br />eligible investment pool if !:he governing body of the entity by rule, order, <br />ordinance, or resolution, as appropriate, authorizes investme:1t in the panicular <br />pool. An investment pool shall invest the funds it receives from entities in <br />authorized investments pennined by this subchapter. <br />(b) To be eligible to receive funds from and invest funds on behalf of an <br />entity under this chapter, an in'vestment pool must furnish to the investment <br />officer or other authorized representative of the entity an offering circular or <br />other similar disclosure insrrumem that contains, at a minimum. the foHowing <br />information: <br />(1) the types of invesnnents in which money is allowed to be invested; <br />(2) the ma\imum average dollar-weighted maturity allowed, based on the <br />stated maturity date, of the pool; <br />(3) the ma'ilinum stated maturity date any invesrment security within the <br />portfolio has; <br />(4) the objectives of the pool; <br />(5) the size of the pool; <br />(6) the names of the members of me advisory board of the pool and the <br />dates their tenns expire; <br />(i) the custodian bank that will safekeep the pool's asser.s; <br />(8) whether the intent of the pool is to maintain a ne~ asset value or one <br />dollar and the risk of market price fluctuation; , <br />(9) whether the only source of payment is the assets of the pool at marke~ <br />value or whether there is a secondary source of payment, such as insurance <br />or guarantees, and a deSCription of the secondary source of payment; <br />(10) the name and address of the independent auditor of the pool; <br />(11) the requirements to be satisfied for anentitv to de:Josit funds in and ..~ <br />-. . <br /> <br />withdraw funds from the pool and any de:ldlines or other operating policies <br />