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<br />Overview of <br />The Public Funds Investment Act <br /> <br />- Fully collateralized <br /> <br />repurchase agreements if: <br /> <br />- There is a defined <br />termination date. <br /> <br />- Secured by above securities. <br /> <br />- Pledged with an approved <br />third party. <br /> <br />- Purchased through a "primary <br />dealer" . <br /> <br />- Bond proceeds can be invested in <br />common trust funds of banks in <br />Texas under certain conditions. <br /> <br />3 <br />