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<br />GOVERNMENT CODE <br />CHAPTER 2256. PUBLIC FUNDS INVESTMENT <br />SUBCHAPTER A. AUTHORIZED INVESTMENTS FOR GOVERNMENTAL ENTITIES <br />Sec. 2256.001. SHORT TITLE. This chapter may be cited as the <br />Public Funds Investment Act. <br />Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eft. Sept. 1, <br />1995. <br /> <br />Sec. 2256.002. DEFINITIONS. In this chapter: <br />(1) "Bond proceeds" means the proceeds from the sale of <br /> <br />bonds, notes, and other obligations issued by an entity, and <br /> <br />reserves and funds maintained by an entity for debt service <br /> <br />purposes. <br /> <br />(2) "Book value" means the original acquisition cost of <br /> <br />an investment plus or minus the accrued amortization or accretion. <br /> <br />(3) "Funds" means public funds in the custody of a state <br /> <br />agency or local government that: <br /> <br />(A) are not required by law to be deposited in the <br />state treasury; and <br />(B) the investing entity has authority to invest. <br />(4) "Insti tution of higher education" has the meaning <br />assigned by Section 61.003, Education Code. <br />(5) "Investing entity" and "entity" mean an entity <br /> <br />subject to this chapter and described by Section 2256.003. <br /> <br />(6) "Investment pool" means an entity created under this <br /> <br />Page -1 - <br />