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< General Materials (GM) - References, Annotations, or Tables> <br />HISTORICAL AND STATUTORY NOTES <br />2000 Main Volume <br />Acts 1999, 76th Leg., ch. 1454 designated subsec. (a); and added subsecs. (b) and (c). <br />Prior Laws: <br />Acts 1987, 70th Leg., ch. 889. <br />Acts 1989, 71st Leg., ch. 39, § 1. <br />Acts 1989, 71st Leg., ch. 628, §§ 1, 2. <br />Acts 1989, 71st Leg., ch. 693, § 4. <br />Acts 1989, 71st Leg., ch. 750, § 1. <br />Vernon's Ann.Civ.St. art. 842a -2, && 2(a), 5(a). <br />Acts 1993, 73rd Leg., ch. 268, § 1. <br />V.T.C.A., Government Code & 2256.003. <br />LIBRARY REFEREN, <br />2000 Main Volume <br />0 <br />Municipal Corporations 884 <br />C=> <br />States 124. <br />WESTLAW Topic Nos. 268, 360. <br />C.J.S. Municipal Corporations § 1881. <br />C.J.S. States § 225. <br />Texts and Treatises <br />2 Texas Jur 3d, Admin. L § 19. <br />NOTES OF DECISIONS <br />Public funds 1 <br />1. Public funds <br />1020 <br />The Public Funds Investment Act, Government Code chapter 2256, subchapter A, applies only to certain public <br />funds. Public funds are those funds belonging to the state or a political subdivision that the state has collected in <br />accordance with a general law and that will be used to serve the public interest generally. A governmental entity <br />may invest under the act only public funds that, among other things, the entity is authorized to invest by a statute <br />other than the act. Op.Atty.Gen.1998, No. DM -489. <br />The Commissioner of Banking may not invest under the act [The Public Funds Investment Act, Government Code <br />chapter 2256, subchapter A] funds of a liquidated, uninsured bank or a trust company in conservatorship because the <br />funds are not public funds. Likewise, the Commissioner may not invest under the act funds of a liquidated <br />perpetual -care cemetery. The Commissioner may not invest under the act seized prepaid - funeral- contract funds, nor <br />may the Commissioner invest under the act money in the prepaid - funeral- contract guaranty fund. Finally, the <br />Commissioner may not invest travel- advance funds under the act because the Commissioner does not have the <br />statutory authority to do so. Op.Atty.Gen.1998, No. DM -489. <br />& 2256.004. Annlicability <br />Copr. 0 West 2001 No Claim to Orig. U.S. Govt. Works <br />