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349 GEINERAL GOVERNI F_ T'I' § 2256.009 Ch. 2256 § 2256.008. Investment Training; Local Governments (a) The treasurer, the chief financial officer if the treasurer is not the chief 'Financial officer, and the investment officer of a local government shall: (1) attend' at least one* training session relating to the treasurer's-or officer's responsibilities under this subchapter within 12 months after taking. office or assuming duties; and V (2) attend an investment training session not less than once in a nvo -vear period and receive not less than 10 hours of instruction relating to investment responsibilities under this subchapter from an independent source approved by the governing body of the local government or a designated investment corminee advising the investment officer as provided for in the investment policy of the local government. (b) Training under this section must include education in investment cor_- trols, security risks, strategy risks, market risks, and compliance with this chapter. ! Amended by Acts 1995, 74th Leg., ch: 402, § 1. eff. Sept. 1, 1995; Acts 1997, 75#th Lez.. ch. 1.42 1. § 55, eff. Sept. 1. 1997. Historical and Statutory dotes Section 3 of the 199- amendatory act pro - vides: '•Each treasurer. chic: financial officer, and investment officer who is in office or who has s5sumed duties on September 1. 1995, and who would be required by Section 2256.008(x). Gov - ernment Code, as amended by this Act, to at- tend investment training within 12 months after taking office or assuming duties shall attend at least one training session' relating to the per- son's responsibilities under Chapter 22 -6. Gov- e -nment Code, that meeu the requirements of that section not later than September 1. 1997 Acts 1997. ; nth Lea.. ch. 11121. in subsec. (a). inserted subdivision designator "(1) substitut- ed "'subchapter" for "chapter', added sued. (2). and made other nonsubstantive changes. A For application provisions of acts 1997. 7 -t: Leg.. ch. 1421. sea notes following V.T.C.:?.. Government Code § 2250.002. § 2256.009. Authorized Investments: Obligations of, or Guaranteed by Governmental Entities (a) E.Ycept as provided by Subsection (b), the following are authorized' invesanents under this subchapter: (1) obligations of the United States or its agencies and instrumentalities: (2) direct obligations of this state or its agencies and instrumentalities: (3) collateralized murtaaoe obligations directly issued. by a federal 'aaency or.instrumentality of the United States, the underlying security for which is guaranteed by an agency or instrumentality of the United States; (4) other obligations, the principal and interest of which-are unconditional- r lv guaranteed or insured by, or backed by the full faith and credit of, this. .state or the United States or their respective agencies and instrumentalities; and (5) obligations of states, agencies, counties, cities, and other -political, � subdivisions of anv state rated as to investment quality' by a nationailv " recognized investment rating firm not less than A or its equivalent.