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<br />code to invest public funds jointly on behalf of the entities that <br /> <br /> <br />participate in the pool and whose investment objectives in order of <br /> <br /> <br />priority are: <br /> <br />(A) preservation and safety of principal; <br />(B) liquidity; and <br />(C) yield. <br />(7) "Local government" means a municipality, a county, a <br /> <br />school district, a district or authority created under Section <br /> <br />52 (b) (1) or (2), Article III, or Section 59, Article XVI, Texas <br /> <br />Constitution, a fresh water supply district, a hospital district, <br /> <br />and any political subdivision, authority, public corporation, body <br /> <br />politic, or instrumentality of the State of Texas, and any <br /> <br />nonprofit corporation acting on behalf of any of those entities. <br /> <br />(8) "Market value" means the current face or par value <br /> <br />of an investment multiplied by the net selling price of the <br /> <br />security as quoted by a recognized market pricing source quoted on <br /> <br />the valuation date. <br />(9) "Pooled fund group" means an internally created fund <br /> <br />of an investing entity in which one or more institutional accounts <br /> <br />of the investing entity are invested. <br /> <br />(10) "Qualified representative" means a person who holds <br /> <br />a position with a business organization, who is authorized to act <br /> <br />on behalf of the business organization, and who is one of the <br /> <br />following: <br /> <br />Page -2 - <br />