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<br />Overview of <br />The Public Funds Investment Act <br /> <br />0 Delineates eligible investments. <br />- Obligations of the United States. <br /> <br />- U.S. agencies and instrumentalities. <br /> <br />- Any obligation guaranteed by U.S. <br />- Direct debt of the State of Texas. <br /> <br />- Direct debt of Texas agencies. <br /> <br />- Any obligation guaranteed by Texas. <br /> <br />- A subdivision of any state in the <br />U.S. with a rating of "A" or better. <br /> <br />- C.D.s of state and national banks <br />domiciled in Texas if: <br /> <br />- Insured by FDIC. <br />- Secured by above securities. <br />- AAA Mortgaged backed securities. <br /> <br />2 <br />