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<br />APPENDIX C <br /> <br />TEXAS PUBLIC FUNDS INVESTMENT ACT <br /> <br />TEXAS GOVERNMENT CODE <br /> <br />CHAPTER 2256. PUBLIC FUNDS INVESTMENT <br /> <br />Amended by Acts 2005, 79th Leg., ch. 128, Sec. 1, eff. Sept. 1, 2005. <br />Added by Acts 2005, 79th Leg., ch. 121, Sec. 1, eff. Sept. 1,2005. <br /> <br />SUBCHAPTER A. AUTHORIZED INVESTMENTS FOR GOVERNMENTAL ENTITIES <br /> <br />Sec. 2256.001. SHORT TITLE. This chapter may be cited as the Public Funds Investment Act. <br />Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995. <br /> <br />Sec. 2256.002. DEFINITIONS. In this chapter: <br /> <br />(1) "Bond proceeds" means the proceeds from the sale of bonds, notes, and other obligations issued by <br />an entity, and reserves and funds maintained by an entity for debt service purposes. <br /> <br />(2) "Book value" means the original acquisition cost of an investment plus or minus the accrued <br />amortization or accretion. <br /> <br />(3) "Funds" means public funds in the custody of a state agency or local government that: <br />(A) are not required by law to be deposited in the state treasury; and <br />(B) the investing entity has authority to invest. <br /> <br />(4) "Institution of higher education" has the meaning assigned by Section 61.003, Education Code. <br /> <br />(5) "Investing entity" and "entity" mean an entity subj ect to this chapter and described by Section <br /> <br />2256.003. <br /> <br />(6) "Investment pool" means an entity created under this code to invest public funds jointly on behalf <br />of the entities that participate in the pool and whose investment objectives in order of priority are: <br />(A) preservation and safety of principal; <br />(B) liquidity; and <br />(C) yield. <br /> <br />(7) "Local government" means a municipality, a county, a school district, a district or authority created <br />under Section 52(b)(I) or (2), Article III, or Section 59, Article XVI, Texas Constitution, a fresh water supply district, a <br />hospital district, and any political subdivision, authority, public corporation, body politic, or instrumentality of the State <br />of Texas, and any nonprofit corporation acting on behalf of any of those entities. <br /> <br />(8) "Market value" means the current face or par value of an investment multiplied by the net selling <br />price of the security as quoted by a recognized market pricing source quoted on the valuation date. <br /> <br />City of San Marcos Investment Policy <br /> <br />Page 18 <br />