Res 2004-129 - Laserfiche WebLink

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agencies, or a combination of those entities. (b) In the exercise of its powers under Subsection (a), the governing body of an investing entity may contract with an investment management fIrm registered under the Investment Advisers Act of1940 (15 D.S.C. Section 80b-1etseq.) or with the State Securities Board . to provide for the investment and management of its public funds or other funds under its control. A contract made under authority of this subsection may not be for a term longer than two years. A renewal or extension of the contract must be made by the governing bodyofthe investing entity by order, ordinance or resolution. (c) This chapter does not prohibit an investing entity or investment offIcer from using the entity's employees or the services of a contractor of the entity to aid the investment officer in the execution of the offIcer's duties under this chapter. Sec. 2256.004· Applicability (a) This subchapter does not apply to: (1) a public retirement system as defIned by Section 802.001; (2) state funds invested as authorized by Section 404.024; (3) an institution of higher education having total endowments of at least $95 million in book value on May 1, 1995 (4) funds invested by the Veterans Land Board as authorized by Chapter 161, 162, or 164, Natural Resources Code, (5) registry funds deposited· with the county or district clerk under Chapter 117, Local Government Code, or (6) a deferred compensation plan that qualifies under either Section 401 (k) or 457 of the Internal Revenue Code of 1986 (26 D.S.C. Section I et seq.) as amended. (b) This subchapter does not apply to an investment donated to an investing entity for a particular purpose or under terms· of use specifIed by the donor; Sec. 2256.005 Investment Policies; Investment Strategies; Investment Officer. (a) The governing body of an investing entity shall adopt by rule, order, ordinance, or resolution, as appropriate, a written investment policy regarding the investment of its funds and funds under its controL (b) The investment policies must: (1) be written; (2) primarily emphasize safety of principal and liquidity; (3) address investment diversification, yield, and maturity and the quality and capability of investment management; and (4) include: (A) a list of the types of authorized investments in which the investing entity's funds may be invested; (B)the maximum allowable stated maturity of any individual investment owned by the entity; (C) for pooled fund groups, the maximum dollar-weighted average maturity allowed based on the stated maturity date for the portfolio. (D )methods to monitor the market price of investments acquired with public City of San Marcos Investment Policy Page 20