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(2) authorize an investment specifically prohibited <br />by other law. <br />(b) Except with respect to those investing entities <br />described in Subsection (c), a security described in Section <br />2256.009(b) is not an authorized investment for a state agency, a <br />local government, or another investing entity, notwithstanding any <br />other provision of this chapter or other law to the contrary. <br />(c) Mortgage pass-through certificates and individual <br />mortgage loans that may constitute an investment described in <br />Section 2256.009(b) are authorized investments with respect to the <br />housing bond programs operated by: <br />(1) the Texas Department of Housing and Community <br />Affairs or a nonprofit corporation created to act on its behalf; <br />(2) an entity created under Chapter 392, Local <br />Government Code; or <br />(3) an entity created under Chapter 394, Local <br />Government Code. <br />Added by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995. <br />Sec. 2256.025. SELECTION OF AUTHORIZED BROKERS. The <br />governing body of an entity subject to this subchapter or the <br />designated investment committee of the entity shall, at least <br />annually, review, revise, and adopt a list of qualified brokers <br />that are authorized to engage in investment transactions with the <br />entity. <br />Added by Acts 1997, 75th Leg., ch. 1421, Sec. 13, eff. Sept. 1, <br />1997. <br />Sec. 2256.026. STATUTORY COMPLIANCE. Al1 investments made <br />by entities must comply with this subchapter and all federal, <br />state, and local statutes, rules, or regulations. <br />Added by Acts 1997, 75th Leg., ch. 1421, Sec. 13, eff. Sept. 1, <br />1997. <br />SUBCHAPTER B. MISCELLANEOUS PROVISIONS <br />Sec. 2256.051. ELECTRONIC FUNDS TRANSFER. Any local <br />government may use electronic means to transfer or invest all funds <br />27 <br />