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<br />Acts 1997, 75th Leg., ch. 1421, in subsec. (a), in subd. (1), inserted "registered with and", added new subd. (2), and
<br />redesignated former subds. (2) and (3) as subds. (3) and (4), respectively.
<br />
<br />For application provisions of Acts 1997, 75th Leg., ch. 1421, see notes following V.T.C.A.. Government Code &
<br />2256.002.
<br />
<br />Acts 1999, 76th Leg., ch. 1454, in subsec. (c), in subd. (1) substituted "15 percent" for "80 percent", and deleted
<br />"money-market mutual funds described in Subsection (a) or" following "debt service, in" and It, either separately or
<br />collectively" following "Subsection bIt, deleted subd. (2), and renumbered former subds. (3) and (4) as subds. (2) and
<br />(3). Prior to deletion, subsec. (c)(2) read:
<br />
<br />"invest in the aggregate more than 15 percent of its montWy average fund balance, excluding bond proceeds and
<br />reserves and other funds held for debt service, in mutual funds described in Subsection (b);"
<br />
<br />Prior Laws:
<br />Acts 1987, 70th Leg., ch. 889.
<br />Acts 1989, 71st Leg., ch. 628, ~ 1.
<br />Acts 1991, nnd Leg., ch. 732, ~ 1.
<br />Acts 1993, 73rd Leg., ch. 946, ~ 1.
<br />Vernon's Ann.Civ.St. art. 842a-2. & 2(c). (d).
<br />Acts 1993, 73rd Leg., ch. 268, ~ 1.
<br />Acts 1995, 74th Leg., ch. 76, ~ 5.45(c), (t).
<br />V.T.C.A.. Government Code & 2256.011.
<br />
<br />LffiRARY REFERENCES
<br />2000 Main Volume
<br />
<br />Municipal Corporations ~ 884.
<br />
<br />
<br />States ~ 124.
<br />WESTLA W Topic Nos. 268, 360.
<br />C.J.S. Municipal Corporations ~ 1881.
<br />C.J.s. States ~ 225.
<br />
<br />NOTES OF DECISIONS
<br />
<br />Type of securities 1
<br />
<br />1. Type of securities
<br />
<br />The Public Funds Investment Act, V.T.C.S. article 842a-2, authorizes cities, counties, and certain other public and
<br />nonprofit entities to invest their funds and funds under their control in mutual funds holding only adjustable rate
<br />mortgages that obligate United States agencies provided that the mutual fund complies with section 2( d) of the act,
<br />and provided that the entity invests no more of its money in the mutual fund than section 2( d) permits.
<br />Op.Atty.Gen.1993, No. DM-202.
<br />
<br />& 2256.015. Authorized Investments: Guaranteed Investment Contracts
<br />
<br />(a) A guaranteed investment contract is an authorized investment for bond proceeds under this subchapter if the
<br />guaranteed investment contract:
<br />
<br />(l) has a defmed termination date;
<br />
<br />Copr. @ West 2001 No Claim to Orig. U.S. Govt. Works
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