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40-2 Acts 1997, 75th Leg., ch. 1421 inserted "or no lower than investment grade by at least one nationally recognized rating service with a weighted average maturity no greater than 90 days ". For application provisions of Acts 1997, 75th Leg., ch. 1421, see notes following V.T.C.A., Government Code 2256.002. e 2256.020. Authorized Investments: Institutions of Higher Education In addition to the authorized investments permitted by this subchapter, an institution of higher education may purchase, sell, and invest its funds and funds under its control in the following: (1) cash management and fixed income funds sponsored by organizations exempt from federal income taxation under Section 501(t), Internal Revenue Code of 1986 (26 U.S.C. Section 501(f)); (2) negotiable certificates of deposit issued by a bank that has a certificate of deposit rating of at least 1 or the equivalent by a nationally recognized credit rating agency or that is associated with a holding company having a commercial paper rating of at least A -1, P -1, or the equivalent by a nationally recognized credit rating agency; and (3) corporate bonds, debentures, or similar debt obligations rated by a nationally recognized investment rating firm in one of the two highest long- term rating categories, without regard to gradations within those categories. Added 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 Prior Laws: Acts 1987, 70th Leg., ch. 889. Acts 1989, 71st Leg., ch. 628, § 1. Acts 1989, 71st Leg., ch. 750, § 1. Acts 1993, 73rd Leg., ch. 946, § 1. Vernon's Ann.Civ.St. art. 842a -2. § 2(b). Acts 1993, 73rd Leg., ch. 268, § 1. Acts 1995, 74th Leg., ch. 76, § 5.45(d), (f). V.T.C.A., Government Code § 2256.012. LIBRARY REFERENCES 2000 Main Volume Colleges and Universities � 6(1). WESTLAW Topic No. 81. C.J.S. Colleges and Universities § 10. § 2256.0201. Authorized Investments; Municipal Utility (a) A municipality that owns a municipal electric utility that is engaged in the distribution and sale of electric energy or natural gas to the public may enter into a hedging. contract and related security and insurance agreements in relation to fuel oil, natural gas, and electric energy to protect against loss due to price fluctuations. A hedging �— transaction must comply with the regulations of the Commodity Futures Trading Commission and the Securities and Exchange Commission. If there is a conflict between the municipal charter of the municipality and this chapter, this chapter prevails. Copr. © West 2001 No Claim to Orig. U.S. Govt. Works