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(e) To be eligible 3S un authorized inveSlment: (1) the governing body of the enlit} must specifically authorize guaranLeed investmelltContr<lcts as an eligible investment in the order, ordinance, or resolution authorizing the issuance of bonds; (2) the entity mtlst receive bids from 1It least three sepurilte providers viith no material fin3f1cial interest in the bonds from which proceeds were received: (3) the ernit}' must purchase Ihe highest yielding guaranteed investment contract for which a qualilying bid is n~l;eived; (4) the price of the guaranteed investment contract must take into account the rCllSonabl} expected drawdown schedule for the bond proceeds to be invested; and (5) the prov ider must t:ertify the administrative costs reasonably expected to he paid to thi rd PW1lCS in connection with the guaranteed investment COlllraeL Amended by Acts 1995, 74th Leg" ch. 402, See, I, ell: Sept. 1. 1995: Acts 1997, 75th Leg" ch, 1421, Sec. g. eff. Sept. f. 1997; Acts 1999. 76th Leg" ch, 1454, See, 9,10, eft. Sept. t, 1999. Sec. 2256.016, AUTHORIZED IN\ EST\lENTS: INVESTMENT POOLS. (u) An entity may invest its funds and funds under its control through an eligible investment pool if [he goveming body of the entity by rule. order. ordinance, or resolution. as appropriate, authorizes investmcnt in the particular pool, An investment pool shall invest the funds it receives from entities ill authorized investments permitted b) this subchapter. (b) To be eligible to ret:cive funds from and invest funds 011 hehalf of an entity under this t:hapter, an investment pool must furnish to the investment officer or other authorjzed representative of the elltity an alTering drcular or other similar disclosure inslrumem that contains, at a minimum, the following information: (1) the types ofinvestlnents in which money is allowed to be invested: (2) the rn<txmlUlIl average dollar-weighted maturity allowed, based on the stated maturity dale, ofthe pool; (3) the maximum stated maturity date any investment sccuriiy within the portfolio has; (4) the objectives of the pool: (5) the size ofthe pool; (6) the names ofthe members ofthe advisor) board of the pool and the dates their terms expire: (7) the custodian bank that will safekeep the pool's assels; (8) whether the intent of the pool is to maintain a net asset value of one dollar and the risk 0)' market price fluctuation; (9) whether the onl) source of payment is the assets ofIhe pool at market value or whether therc is a secondary SOllree of payment. such as insurance or guarantees, and a description of the secondary source of payment: (10) the name and address of the independent auditor ofthe pool; (11) the requirements to be satisfled for an emity to depositfunds in and withdraw funds from the po!,)l and any de,ldlines mother operating policies required for the entity to invest funds in and withdraw funds from the pool', and (12) the pcrlOllnance history of the pool, including yield, avcruge dollar-weighted maturities, and expense ratios, (el To maintain eligibility to receive funds {fOol and invest funds on behalf of an eMit) under this chapter, an investment pool must furnish to the investment oftleer or other authorized representative ofthe entity: (1) investment trans3t:tion confirmations; and (2) a monthly report that contains, at a minimum, the following infomlation: (:\) the types and percentage breakdown of securities in which the pool is invested: (8) the current average dollar-weighted maturit}, based on [he stated maturity date. of the pool; rc) the current percentage of the pool's plJrtfolio in investments that have Slated m;llurjties of more than one year; (D) the book value \crSlIS the market value of the pool's portfolio, using amortized cost valuation; (L~J [he size ofthe poo.l: (F, the number of participants in the pool. (G! the custodian bank that is safekeeping the assets of the pool. Page 27 :-:itv of San 11arc{:!s Investment FOJ1.C}