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Arta 8426 -2
<br />BONDS— COUNTY. MUNICIPAL, ETC
<br />June 16, 1989 Sec Title 22
<br />2(b) amended by Acts 1989, 71st Lag., ch. 760, § 1, eft• June 16, 1989; See 3(d)
<br />amended by Acts 1989, 71st Leg„ ch. 760, § 2, off. June 15,1989; Sec 6
<br />Leg•. ch. 628, § 2, eff. Aug. 28, 1989.
<br />amended by Acts 1989, TLC
<br />$Istorl., Note
<br />Acts 1989, Tlat Leg„ ch 628, § 6 provides:
<br />"This
<br />Crime control and prevention districts, boards
<br />may not Invest funds otherwise than as specified
<br />Act takes effect immediately, except
<br />by this article or art. 836 or 837, ace art 2370o-
<br />that Subsection (d), Section 2, Public Funds In-
<br />4, § 6.09•
<br />vestment Act of 1987 (Article 842& -2, Vernon's
<br />Texas CH Statutes). as added by Section 1 of
<br />Navigation districts, investment of bond pro.
<br />coeds, see V.T.0 -L Water Code, § 60.847.
<br />this Ack takes effect (1) immediately with re.
<br />Political subdivisions group benefits Program,
<br />spect to Institutions of higher education; and (2)
<br />only if the constitutional amendment
<br />Investments. ace V.T.C.A. Local Government
<br />Code § 172.009.
<br />proposed
<br />by the 71st LUgislature, Regular Session, 1989,
<br />Public Funds Collateral Act, see art 2629d.
<br />13"L 691 authorising local governments to in
<br />Teat their funds as provided by law is approved
<br />Tex" Bigh,8peed Rail Authority, investment
<br />of funds, see art 6674YA § 2o.
<br />by the voters with respect to all other entities.
<br />If that amendment is not approved, Subsection
<br />(d) of Section 2 has no effect for entities other
<br />than Institutions of higher education,"
<br />Notes of Decisions
<br />Title of Act-
<br />Validity 1
<br />An Act relating to the Investment of public
<br />funds. Acts 1987, 70th Leg., eh. 8s9
<br />Validity
<br />Cross References •.
<br />Insofar as this article purports to authorise
<br />College and university funds, Investment 6o-
<br />cording to this act, see V.T.C.A. Education Code,
<br />iinnvestt public funds bankorieennted money nmar•
<br />§
<br />kit mutual funds or other securities of private
<br />County
<br />County nt Co Investments,
<br />1 116.11. see V.T.0 A Local
<br />Government Code, § 116.112
<br />entities, It conflicts with article III, section 62, of
<br />the Texas Constitution. Op.Atty.Gen.1988, No.
<br />,
<br />,U_975
<br />290
<br />I
<br />•a
<br />A motion was made by Councilman Booth to bring from the table Item No.
<br />8C of the agenda, Lease Agreement with James Wrenn, Jr. The motion was
<br />seconded by Councilman Wortham, and carried 5 ayes, 0 nays.
<br />Resolution No. 90 -010 authorizing and directing the City Manager of the
<br />City of Paris, Michael E. Malone to execute on behalf of the City of
<br />Paris the lease agreement with James M. Wrenn, Jr. as presented. A
<br />motion was made by Councilman Kent, seconded by Councilman Davidson for
<br />approval of the resolution. The motion carried 5 ayes, 0 nays. --
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