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Page 33 of 37 <br />(3) a project cost of an eligible project; or <br />(4) a construction expense of the eligible entity. <br />Added by Acts 2017, 85th Leg., R.S., Ch. 773 (H.B. 1.003), Sec. 7, <br />eff. June 14, 2017. <br />Text of section as added by Acts 2017, 85th Leg., R.S., Ch. 344 <br />(H.B. 1472), Sec. 1 <br />For text of section as added by Acts 2017, 85th Leg., R.S., Ch. 773 <br />(H.B. 1003), Sec. 7, see other Sec. 2256.0206. <br />Sec. 2256.0206. AUTHORIZED INVESTMENTS: PUBLIC JUNIOR COLLEGE <br />DISTRICT FUNDS FROM MANAGEMENT AND DEVELOPMENT OF MINERAL RIGHTS. <br />(a) In addition to other investments authorized under this <br />subchapter, the governing board of a public junior college district <br />may invest funds received by the district from a lease or contract <br />for the management and development of land owned by the district and <br />leased for oil, gas, or other mineral development in any investment <br />authorized to be made by a trustee under Subtitle B, Title 9, <br />Property Code (Texas Trust Code). <br />(b) Funds invested by the governing board of a public junior <br />college district under this section shall be segregated and accounted <br />for separately from other funds of the district. <br />Added by Acts 2017, 85th Leg., R.S., Ch. 344 (H.B. 1472), Sec. 1, <br />eff. September 1, 2017. <br />Sec. 2256.021. EFFECT OF LOSS OF REQUIRED RATING. An <br />investment that requires a minimum rating under this subchapter does <br />not qualify as an authorized investment during the period the <br />investment does not have the minimum rating. An entity shall take <br />all prudent measures that are consistent with its investment policy <br />to liquidate an investment that does not have the minimum rating. <br />Added by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995. <br />Sec. 2256.022. EXPANSION OF INVESTMENT AUTHORITY. Expansion of <br />investment authority granted by this chapter shall require a risk <br />4/18/2018 <br />