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GOVERNMENT CODE CHAPTER 2256. PUBLIC FUNDS INVESTMENT <br />GOVERNMENT CODE <br />TITLE 10. GENERAL GOVERNMENT <br />SUBTITLE F. STATE AND LOCAL CONTRACTS AND FUND MANAGEMENT <br />CHAPTER 2256. PUBLIC FUNDS INVESTMENT <br />SUBCHAPTER A. AUTHORIZED INVESTMENTS FOR GOVERNMENTAL ENTITIES <br />Sec. 2256.001. SHORT TITLE. This chapter may be cited as <br />the Public Funds Investment Act. <br />Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. l, <br />1995. <br />Sec. 2256.002. DEFINITIONS. In this chapter: <br />(1) "Bond proceeds" means the proceeds from the sale <br />of bonds, notes, and other obligations issued by an entity, and <br />reserves and funds maintained by an entity for debt service <br />purposes. <br />(2) "Book value" means the original acquisition cost <br />of an investment plus or minus the accrued amortization or <br />accretion. <br />(3) "Funds" means public funds in the custody of a <br />state agency or local government that: <br />(A) are not required by law to be deposited in the <br />state treasury; and <br />(B) the investing entity has authority to invest. <br />(4) "Institution of higher education" has the meaning <br />assigned by Section 61.003, Education Code. <br />(5) "Investing entity" and "entity" mean an entity <br />subject to this chapter and described by Section 2256.003. <br />(6) "Investment pool" means an entity created under <br />this code to invest public funds jointly on behalf of the entities <br />that participate in the pool and whose investment objectives in <br />order of priority are: <br />(A) preservation and safety of principal; <br />(B) liquidity; and <br />(C) yield. <br />(7) "Local government" means a municipality, a county, <br />1 <br />