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<br />GENERAl GOVERNMENT S 2256.023 . <br />Ch. 2256 <br /> <br />S 2256.021. Effect of Loss of Required Rating <br /> <br />An investment that requires a minimum rating under this subchapter does <br />not qualify as an authorized investment during the period the investment does <br />not have the minimum rating. An entity shall take all prudent measures that <br />are consistent with its investment policy to liquidate an investment that does <br />not have the minimum rating. <br />... <br /> <br />Added by Acts 1995, 74th Leg.. ch. 402. 9 1, eff. Sept 1, 1995. <br /> <br />S 2256.022. Expansion of Investment Authority <br /> <br />Expansion of investment authOrity granted by this chapter shall require a risk <br />assessment by the state auditor or perfonned at the direction of the state <br />auditor. <br /> <br />Added by Acts 1995, i4th Leg., ch. 402, 9 1, eff. Sept 1, 1995. <br /> <br />g 2256.023. Internal Management Reports <br /> <br />(a) Not less than quanerly, the investment officer shall prepare and submit to <br />the governing bodv of the entitY a wrinen reoon of inves'tTIlem transactions for <br />.... .. - . . <br /> <br />all funds covered by this chapter for l~e preceding reporting period. <br />(b) The repOI1 must: <br />(1) describe in detail the investment positi~n of the entity on the date of the <br />report; <br />(2) be prepared jointly by all investment officers of the entity; <br />(3) be signed by each invesnnent officer of the entity; <br />(4) contain a summary statement, prepared in compliance with gener-dly <br />accepted accounting principles," or each pooled fund group that states the: <br />(A) beginning market value for the reporting period; <br />(B) additions and changes to the market value during the period; <br />(C) ending market value for the period; and <br />(D) fully accrued interest for the reporting period; <br />(5) state the book value and market value of each separately invested asset <br />at the beginning and end of the reporting period by the type of asset and fund <br />type invested; <br />(6) state the maturity date of each separately invested asset that has a <br />maturity date; <br />(i) state the account or fund or pooled group fund in the state agency or <br />local government for which each individual investment was acquired; and <br />(8) state the compliance of the investment porJolio of the state agency or <br />local 2'overnment as it relates to: <br />... <br /> <br />(A) the investment strategy expressed in the agency's or local govern- <br />ment's invesnnem policy; and <br />(B) relevant provisions of this chapter. <br /> <br />(c) The repOI1 shall be presented not less than quarterly to the governing <br />body and the chief executive officer of the entity within a reasonable time afte~.___ <br />the end of the period. -- <br />