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<br />GENERAL GOVERNNIE~l' <br />Ch. 2256 <br /> <br />A~t that are no longer authorized investnltnt <br />:;~curiti~$ under th:lt ch:lptcr :J.S amended by <br />this Act is not required by this Act to Iiquid:ne <br />those: securities bdore the 6n:1I st:ned maturirv <br />of the: invcstmt::ll." . <br /> <br />S 2256.002 <br /> <br />Prior Laws: <br />Acts 198i, 70th Leg., ch. 889. <br />Vernon's Ann.Civ.Sl art. 8423-2. 9 1. <br />Acts 1993.' 73rd Leg.. ch. 268. 9 1. <br />V.T.C.A.. Governmem Code ~ 2256.001. <br /> <br />S 2256.002. Definitions <br /> <br />In this chapter: <br /> <br />(1) "Bond proceeds" means the proceeds from the sale of bonds, notes, <br />and other obli2:ations issued bv an entitv, and reserves and funds maintained <br />~ .. <br /> <br />by an entity for debt service purposes. <br /> <br />(2) "Bookvilue" mems the original acquisition cost of an invesrmer1t plus <br />or minus the accrued amol1ization or accretion. <br /> <br />(3) "Funds" means public funds in the custody of a state age~cy or 10c2.1 <br />government that: <br /> <br />(A) are not required by la~ to be deposited in the state tre:?Sury: and <br /> <br />(B) the investin8: entirv has authorirv to invest. <br />~. . <br /> <br />(4) "Institution of hi!L~er education" has the mea..T'lin8: assimed bv Section <br />- .... - .. <br /> <br />61.003, Education Code. <br /> <br />(5) "Investing entity" and "entity." mean an entity subject to this chapte:- <br />and described bv Section 2256.003. <br />. <br /> <br />(6) "Investment pool" means an entity created under this code to inves~ <br />public funds jointly on behalf of the entities that participate in the pool 8.nd <br />\vhose invesunent objectives in orcler of priority are: <br /> <br />(A) preservation and safety of principal; <br />(B) Uauiditv; and <br />. . <br /> <br />(C) yield. <br />. . <br /> <br />(7) "Local ~overnment" means a municioalitv, a county, a school disrric!, <br />...... ..., <br /> <br />a disuict or authority created under Section 52(b)(1) or (2), Aniele III, or <br />Section 59, Article XVI. Texas Constitution, a fresh water supply district, a <br />hospital district, and any political subdivision, authority, public corporation, <br />body politic, or instrumentality of the State of Texas, and any nonpro6t <br />cornoration actin!! on behalf of any of those entities. <br />. ... . <br /> <br /> <br />(8) "Market value" me:ms the curre:!t face or par value of an invesnnent <br />multiplied by the net selling price of the security as quoted by a recognized <br />market pricing source quoted on the valuation date. <br /> <br />(9) "Pooled/ fund group" me3.DS an internally created fund of an investing <br />entity in which one or more institutional accounts of the investing entity are <br />invested. <br /> <br />(10) "Qualified .representative" me3.ns a pe~son who holds a position with <br />a business org::miz:ltion, who is authorized to-act on behalf of the business,,,,,,.., <br />or2::lniz:ltion. ::lnd who is one of the followin~: '. <br />... ~ <br />