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<br />NOTES OF DECISIONS <br /> <br />Person responsible 1 <br /> <br />1. Person responsible <br /> <br />Commissioners court may designate which county funds are to be invested and direct treasurer to invest those funds <br />in accordance with Public Funds Investment Act. Op.Atty.Gen. 1992, No. DM-96. <br /> <br />& 2256.006. Standard of Care <br /> <br />(a) Investments shall be made with judgment and care, under prevailing circumstances, that a person of prudence, <br />discretion, and intelligence would exercise in the management of the person's own affairs, not for speculation, but <br />for investment, considering the probable safety of capital and the probable income to be derived. Investment of <br />funds shall be governed by the following investment objectives, in order of priority: <br /> <br />(1) preservation and safety of principal; <br /> <br />(2) liquidity; and <br /> <br />(3) yield. <br /> <br />(b) In determining whether an investment officer has exercised prudence with respect to an investment decision, the <br />determination shall be made taking into consideration: <br /> <br />(1) the investment of all funds, or funds under the entity's control, over which the officer had responsibility rather <br />than a consideration as to the prudence of a single investment; and <br /> <br />(2) whether the investment decision was consistent with the written investment policy of the entity. <br /> <br />Amended by Acts 1995, 74th Leg., ch. 402, ~ 1, eff. Sept. 1, 1995. <br /> <br /><General Materials (GM) - References, Annotations, or Tables> <br /> <br />mSTORICAL AND STATUTORY NOTES <br />2000 Main Volume <br /> <br />Prior Laws: <br />Acts 1979, 66th Leg., p. 2071, ch. 810. <br />Acts 1987, 70th Leg., ch. 889. <br />Acts 1989, 71st Leg., ch. 693, ~ 2. <br />Acts 1993, 73rd Leg., ch. 268, ~ 1. <br />Vernon's Ann.Civ.St. arts. 842a-2. & 4; 4413(34c), ~ 6(a). <br />V.T.C.A.. Government Code & 2256.005. <br /> <br />LIBRARY REFERENCES <br />2000 Main Volume <br /> <br />Municipal Corporations €::::> 884. <br /> <br />States €::::> 124. <br />WESTLA W Topic Nos. 268, 360. <br /> <br />Copr. @ West 2001 No Claim to Orig. U.S. Govt. Works <br />