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3s0 • 3 2236.U23 GOVERN. _N CODE -- Title 10 (d) If an entity invests in other than money market mutual funds, investment pools or accounts offered by its depository bank in the form of certificates •of deposit, or money market accounts or similar accounts, the reports prepared by. the investment officers under this section shall be formally reviewed at least annually by an independent auditor, and the result of the review shall be reported to the governing bodv by that auditor. Added by Acts 1995. 74th Leg., ch. 402. § 1, eff. Sept. 1. 199-5. Amended by Acts 1997. 75th Leg., ch. 1421. § 12, eff. Sept. 1. 1997. ` Historical and Statutory Notes Acts 1997. 75th Leg., eh. 1421, in subset. (b). in subd. (4), inserted ", prepared in compliance with gene-rally accepted accounting principles.", added par. (D), and made other nonsubstantive chanties: and added subset. (d). For application provisions of Acts 1997. 75th Leg- ch. 1421, see notes following V.T.C.4.. Government Code § 2256.002. § 226.024. Subchapter Cumulative Prior Laws: Acts 1979. 66th Lez., p. 2071. eh. 810. Vernon's Ann.Cir.SL art. 4113(341c). § 4. Acts 1993. 73rd Leg- eh. 268. § 1. V.T.C.A., Govemmcnt Code § 2256.057. (a) The authority granted by this subchapter is in addition to that granted by other law. Except as provided by Subsection (b), this subchapter does not: (1)* prohibit an investment specifically authorized by other law: or (2) authorize an investment specifically prohibited by other law. (b) Except with respect to those investing entities described in Subsection (c), a security described in Section 2256.009(b) is not an authorized investment for a state agency, a local government, or another investing entity, notwithstanding any other provision of this chapter or other law to the contrary. (c) Morteaze pass - through certificates and individual mortgage loans that may constitute an investment described in Section 2256.009(b) are authorized investments with respect to the housing bond programs operated bv- (1) the Texas Department of Housing and Community Affairs or a nonprof -.. it corporation created to act on its behalf: (2) an entity created under Chapter 392. Local Government Code: or (3) an entity created under Chapter 394, Local Government Code. Added by Acts 1993. 74th Lc-.. ch. 402, § 1, eff. Sept. 1, 1995. Historical and Statutory Notes Prior Laws: Acts 1993. 73rd Leg- ca. 268. § I. Acts 1979. 66th Ler.. p. 2071, ch. 810. V.T.C.A.. (;ove:nmc -IL Code §§ 22- 6.015. Acts 1987. 70th Leg.. ch. 389. 2256.059. Vernon's Ann.Ci..SL arts. 8423 -2. § 7 4413(.34c). § 7. § 226.025. Selection of Authorized Brokers The governing body of an entity subject to this subchapter or the designated investment commirtee of the entity shall. at least. annually, review, revise, and i