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<br /><General Materials (GM) - References, Annotations, or Tables>
<br />
<br />HISTORICAL AND STATUTORY NOTES
<br />2000 Main Volume
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<br />The repealed section, providing for an advisory board of investment pools, was derived from:
<br />
<br />Acts 1987, 70th Leg., ch. 889.
<br />Acts 1993, 73rd Leg., ch. 946, S 1.
<br />Vernon's Ann.Civ.St. art. 842a-2, && 2(e). 3(f).
<br />Acts 1993, 73rd Leg., ch. 268, S 1.
<br />Acts 1995, 74th Leg., ch. 76, SS 5.45(e), (t).
<br />V.T.C.A.. Government Code IS 2256.014(d).
<br />Acts 1995, 74th Leg., ch. 402, S 1.
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<br />IS 2256.019. Rating of Certain Investment Pools
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<br />A public funds investment pool must be continuously rated no lower than AAA or AAA-m or at an equivalent
<br />rating by at least one nationally recognized rating service or no lower than investment grade by at least one
<br />nationally recognized rating service with a weighted average maturity no greater than 90 days.
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<br />Added by Acts 1995, 74th Leg., ch. 402, S 1, eff. Sept. 1, 1995. Amended by Acts 1997, 75th Leg., ch. 1421, S 11,
<br />eff. Sept. 1, 1997.
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<br /><General Materials (GM) - References, Annotations, or Tables>
<br />
<br />HISTORICAL AND STATUTORY NOTES
<br />2000 Main Volume
<br />
<br />Acts 1997, 75th Leg., ch. 1421 inserted "or no lower than investment grade by at least one nationally recognized
<br />rating service with a weighted average maturity no greater than 90 days".
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<br />For application provisions of Acts 1997, 75th Leg., ch. 1421, see notes following V.T.C.A.. Government Code &
<br />2256.002.
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<br />IS 2256.020. Authorized Investments: Institutions ofHililier Education
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<br />In addition to the authorized investments permitted by this subchapter, an institution of higher education may
<br />purchase, sell, and invest its funds and funds under its control in the following:
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<br />(1) cash management and fIxed income funds sponsored by organizations exempt from federal income taxation
<br />under Section 501(t). Internal Revenue Code of 1986 (26 V.S.C. Section 501(f));
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<br />(2) negotiable certifIcates of deposit issued by a bank that has a certifIcate of deposit rating of at least 1 or the
<br />equivalent by a nationally recognized credit rating agency or that is associated with a holding company having a
<br />commercial paper rating of at least A-I, P-l, or the equivalent by a nationally recognized credit rating agency; and
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<br />(3) corporate bonds, debentures, or similar debt obligations rated by a nationally recognized investment rating fIrm
<br />in one of the two highest long- term rating categories, without regard to gradations within those categories.
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<br />Added by Acts 1995, 74th Leg., ch. 402, S 1, eff. Sept. 1, 1995.
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<br /><General Materials (GM) - References, Annotations, or Tables>
<br />
<br />Copr. <9 West 2001 No Claim to Orig. U.S. Govt. Works
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