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Y Acts 1989, 71st Leg., ch. 628, § 1. Acts 1989, 71st Leg., ch. 693, § 4. Acts 1989, 71 st Leg., ch. 750, § 1. Vernon's Ann.Civ.St. art. 842a -2, & 2(a). Acts 1993, 73rd Leg., ch. 268, § 1. V.T.C.A., Government Code & 2256.007. LIBRARY REFERENCES 2000 Main Volume 0 Municipal Corporations 884 States C= 124. WESTLAW Topic Nos. 268, 360. C.J.S. Municipal Corporations § 1881. C.J.S. States § 225. 2256.011. Authorized Investments: Repurchase Agreements (a) A fully collateralized repurchase agreement is an authorized investment under this subchapter if the repurchase agreement: (1) has a defined termination date; (2) is secured by obligations described by Section 2256.009(a)(1); and (3) requires the securities being purchased by the entity to be pledged to the entity, held in the entity's name, and deposited at the time the investment is made with the entity or with a third party selected and approved by the entity; and (4) is placed through a primary government securities dealer, as defined by the Federal Reserve, or a financial institution doing business in this state. (b) In this section, "repurchase agreement" means a simultaneous agreement to buy, hold for a specified time, and sell back at a future date obligations described by Section 2256.009(a)(1), at a market value at the time the funds are disbursed of not less than the principal amount of the funds disbursed. The term includes a direct security repurchase agreement and a reverse security repurchase agreement. (c) Notwithstanding any other law, the term of any reverse security repurchase agreement may not exceed 90 days after the date the reverse security repurchase agreement is delivered. (d) Money received by an entity under the terms of a reverse security repurchase agreement shall be used to acquire additional authorized investments, but the term of the authorized investments acquired must mature not later than the expiration date stated in the reverse security repurchase agreement. Amended by Acts 1995, 74th Leg., ch. 402, § 1, eff. Sept. 1, 1995. <General Materials (GM) - References, Annotations, or Tables> HISTORICAL AND STATUTORY NOTES 2000 Main Volume Section 6 of the 1995 amendatory act provides: Copr. ® West 2001 No Claim to Orig. U.S. Govt. Works •ti.