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

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S 2256.U23 GOVER,,\;\lE:\jT CODE Title 10 (d) . If an entity invests in other than money market mutual funds, investment pools or accountS offered by its depository bank in the fonn of cenmcates .of deposit. or money market accounts or similar accounts. the reports prepared by the investment officers under this section shall be formaJJv reviewed at leas! annually by an independent auditor, and the result of the review shall be reponed to the governing body by that auditor. Added by Acts 1995. 74th Leg.. ch. 402. S I. e ff. Sept. 1. 1995. Amen ded by Acts 199 i. 75th Leg., ch.1421. 9 12. eff. Sept. 1. 1997. Historical and Statutory Notes Acts 199i, 75th Lez., ch. 1421. in subsec. (b), Prior Laws: in subd. (4), insened -:', prepared in compliance with generally accej:Hed accounting principles,", added p<lr. (D), and made other nonsubstantive chang~s: and added subsee. (d). For application provisions of ActS 1997. 75th L~!!.. eh. 14~ 1. see notes following V.T.C.A., Go~ernme:lt Code 9 2156.002. w ActS 1979, 66th Leg.. p. 20i1. eh. 810. Vernon's Ann.Ch'.St. an. 4413(3~c). 9 4. Ac:.s 1993. i3rd Ltg.. ch. 268. ~ 1. V.T.C.A.. Govei.'lme:u Code S 2256.05i. S 2256.024. Subchapter Cumulative (a) The authOrity granted by this subchapter is in addition to mat granted by other law. Except as provided by Subsection (b), this subchapter does not: (1) prohibit an investment specifically authorized by other law; or (2) authorize an investment specifically prohibited by other law. (b) Except with respect to those investing entities desctibed in Subsection (c), a securitv described in Section 2256.009(b) is not an authorized invest..rne:lt for a state a;encv. a local ~overnment. or another investin~ e:ltirv. notwithStandin~ -.... ....... any other provision of this chapter or other law to the conrrary. (c) Mongage pass-through cerJncates and individual mongage loans that may constitute an investment described in Section 2256.009(b) are autboriztd inv~st.lnents with respect to the housing bond programs operated by: (1) the Texas Depamnenr of Housing and Commwjty Affairs or a nonprof- it corporation created to act on its behalf; (2) an entity created under Chapter 392. Local Government Code; or (3) an entity created under Chapter 394, Local Government Code. Added by Acts 1995. 74th Leg., ch. 402. 9 1, eff. Sept. 1, 1995. Prior uws: ActS 19i9. 66th Leg.. p. 20i I, ch. 810. Acts 1987. 70th Le~.. ch. 389. Vernon's Ann.Ch7.St arts. 8423-2. S 7: 4413(34c). 9 7. Historical and Statutory Notes Acts 1993. i3rci L~g.. ch, 268. 9 1. V.le.A.. (jo\'e:-nmC::ll Code 99 2256.015. ,j-' 059 --.)0. . S 2256.025. Selection of Authorized Brokers The governing body of an entity subject to this sub'chapter or the designmed investment comminee of the entity shall. at le:lst annually, re\;ew, revise. and ...~....~ t'<~