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Page 35 of 37 <br />(c) The report shall be presented not less than quarterly to <br />the governing body and the chief executive officer of the entity <br />within a reasonable time after the end of the period. <br />(d) If an entity invests in other than money market mutual <br />funds, investment pools or accounts offered by its depository bank in <br />the form of certificates of deposit, or money market accounts or <br />similar accounts, the reports prepared by the investment officers <br />under this section shall be formally reviewed at least annually by an <br />independent auditor, and the result of the review shall be reported <br />to the governing body by that auditor. <br />Added by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995. <br />Amended by Acts 1997, 75th Leg., ch. 1421, Sec. 12, eff. Sept. 1, <br />1997. <br />Amended by: <br />Acts 2011, 82nd Leg., R.S., Ch. 1004 (H.B. 2226), Sec. 9, eff. <br />June 17, 2011. <br />Sec. 2256.024. SUBCHAPTER CUMULATIVE. (a) The authority <br />granted by this subchapter is in addition to that granted by other <br />law. Except as provided by Subsection (b) and Section 2256.01-7, this <br />subchapter does not: <br />(1) prohibit an investment specifically authorized by <br />other law; or <br />(2) authorize an investment specifically prohibited by <br />other law. <br />(b) Except with respect to those investing entities described <br />in Subsection (c), a security described in Section 2256.009(b) is not <br />an authorized investment for a state agency, a local government, or <br />another investing entity, notwithstanding any other provision of this <br />chapter or other law to the contrary. <br />(c) Mortgage pass-through certificates and individual mortgage <br />loans that may constitute an investment described in Section 2256.009 <br />(b) are authorized investments with respect to the housing bond <br />programs operated by: <br />(1) the Texas Department of Housing and Community Affairs <br />or a nonprofit corporation created to act on its behalf; <br />4/18/2018 <br />