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<br />Sec. 2256.051 ELECTRONIC FUNDS TRANSFER, A.ny local gOl/eouncnl may use electronic means to
<br />transfer or invest all funds collected or controlled 11) the local govErnment.
<br />Amended by Acts 1995, 74th Leg" ch. 402. See, 1,.:IT Sept. L 1995.
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<br />Sec. 2256.052. PRIV ATE AUDITOR. NOlwithstamJing any other law, a slate agency shall employ a private
<br />auditor ifauthorized by thc legislative audit committee either on the committee's initiative or on request oflhe governmg
<br />body ofthe agenc)!,
<br />Amended by Acts 1995, 74th Leg.. eh. 402. Sec. ], efr. Sept I, 1995.
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<br />Sec, 2256,053, PAYMENT FOR SECURITIES PURCHASED BY STATE. The comptrollcr or the disbursing
<br />officer of an agency that has the power to invest assets directly may pay for authorized securities purchased from or
<br />through a member in good standing of the National Association of Securities Dealers or from or through a national or
<br />slate hank on receiving an invoice from the seller of the securities showing that the securities have been purchased b) the
<br />board or agency and that the amount to be paid for the securities is just, due, and unpaid. A purchase of secllnll\:S may
<br />not be made at a price that exceeds the existing market value of the securities.
<br />Amended by Acts 1995, 74th Leg., eh. 402, Sec, L efL Sept. L 199~; Acts 1997, 75th Leg., ch. 1423, See, 8 67, elT
<br />Sept. 1, 1997.
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<br />See, 2256.054. DELIVERY OF SECURITIES PURCHASED BY STATE, A security purchased under this
<br />chapter may be delivered to the comptroller, a bank. 01' the board or agency investing its funds, The delivery shall be
<br />made under normal and recognized practices in the securities and banking industries, including the book entry procedure
<br />of the Federal Reserve Bank.
<br />Amended by Acts 1995, 74th Leg., eh, 402, See, L elf Sept. I, J 995; Acts 1997. 75th Leg., eh, 1423. Sec. 8,68. ell
<br />Sept. ], 1997.
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<br />Sec, 2256.055, DEPOSIT OF SECURITIES PURCHASED BY 51' ATE. At the direction oflhe comptroJ!cr or
<br />the agency, a security purchased under this chapter may be deposited in trust with a bank or federal reserve bank or
<br />bnl11ch designated by the comptroller, whether in or outside the state. The deposit shall be held in the entity\; nllme as
<br />evidenced by 11 trust receipt of the bank with which the securities are deposited.
<br />Amended by Aels 1995, 74th Leg,. ch. 402. See, L elT Sept. 1, 1995: Acts 1 'l97, 75th Leg., eh, 1423, Sec. 8,69. elf
<br />Sept. 1, \ 997,
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<br />City ot:' San. j'<;'Ja.r-:-'<, ,~r':;.."e$tme:nt l'G\!
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