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<br />2000 Main Volume
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<br />Acts 1995, 74th Leg., ch. 76, ~ 5.46(a), to conform to Acts 1993, 73rd Leg., ch. 946, ~ 1, added ~ 2256.017. That
<br />provision did not take effect pursuant to Acts 1995, 74th Leg., ch. 402, ~ 6, which provides:
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<br />"As provided by Section 1.02, Senate Bill No. 959, [ch. 76] Acts of the 74th Legislature, Regular Session, 1995,
<br />this Act controls over Senate Bill No. 959 to the extent of any conflict."
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<br />Acts 1997, 75th Leg., ch. 1421, in the section heading, substituted "Existing Investments" for "Portfolio of Certain
<br />Investment Pools", and rewrote the section, which previously read:
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<br />"A public funds investment pool created to function as a money market mutual fund must mark its portfolio to
<br />market daily and, to the extent reasonably possible, stabilize at a $1 net asset value. If the ratio of the market value
<br />of the portfolio divided by the book value of the portfolio is less than 0.995 or greater than 1.005, portfolio holdings
<br />shall be sold as necessary to maintain the ratio between 0.995 and 1.005."
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<br />For application provisions of Acts 1997, 75th Leg., ch. 1421, see notes following V.T.eA.. Government Code ~
<br />2256.002.
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<br />Prior Laws:
<br />Acts 1993, 73rd Leg., ch. 858, ~ 1.
<br />Vernon's Ann.Civ.st. art. 842a-2. ~ 2(e).
<br />Acts 1995, 74th Leg., ch. 76, ~ 5.46(b).
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<br />~ 2256.018. Repealed bv Acts 1997. 75th Leg.. rh. 1421. ~ 15, eff. Sept. 1. 1997
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<br /><General Materials (GM) - References, Annotations, or Tables>
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<br />HISTORICAL AND STA TUTORY NOTES
<br />2000 Main Volume
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<br />The repealed section, providing for an advisory board of investment pools, was derived from:
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<br />Acts 1987, 70th Leg., ch. 889.
<br />Acts 1993, 73rd Leg., ch. 946, ~ 1.
<br />Vernon's Ann.Civ.st. art. 842a-2, ~~ 2(e). 3m.
<br />Acts 1993, 73rd Leg., ch. 268, ~ 1.
<br />Acts 1995, 74th Leg., ch. 76, ~~ 5.45(e), (t).
<br />V.T.eA.. Government Code ~ 2256.014(d).
<br />Acts 1995, 74th Leg., ch. 402, ~ 1.
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<br />~ 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, ~ I, eff. Sept. I, 1995. Amended by Acts 1997, 75th Leg., ch. 1421, ~ 11,
<br />eff. Sept. I, 1997.
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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 />Copr. @West2001 No Claim to Orig. U.S. Govt. Works
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