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I I I Added by Acts 1993, 73rd Leg" eh, 268, ~ I, eff. Sept. 1, ] 993. S 2257.004, Conflict With Other Law 111is chapter prevails over any other law relating t.o security for a deposit of public funds to the extent of any conflict Added by Acto:; 1993, 73rd Leg, ch. 268, S 1, eff. Sept. t ] 993, S 2257.005. Contract Governs Legal Action A legal action brought by or against a public entity that arises out of or in connection with the duties of a depository, custodian, or permitted institution under this chapter must be brought and maintained as provided by the contract with the public entity. Added by Acts 1993, 73rd Leg, ch. 268, * 1, eff Sept, 1, 1993, SUBCHAPTER B. DEPOSITORY; SECURITY FOR DEPOSIT OF PUBLIC FUNDS 92257.021. Collateral Required A deposit of public funds shall be secured by eligible securIty to the extent and in the manner required by this chapter. Added by Acts 1993, 73rd Leg, ch. 268, S I, efr. Sept 1, 1993. 92257,022. Amount of Collateral (a) Except as provided by Subsection (b), the total value of eligible security to secure a deposit of public funds must be in an amount not less than the amount of the deposit of public funds: (I ) increased by the amount of any accrued interest; and (2) reduced to the extent that the United States or an instrumentaiit:y of the United States insures the deposit. (b) ^nle total value of eligible security described by Section 45.20 1( 4)(D), Education Code, to secure a deposit of public funds of a school district must be in an amount not less than 1] 0 percent of the amount of the deposit as detennined under Subsection (a). The total market value ofthe eligible security must be reported at least once each month to the school distflCt. (c)Tbe value of a surety bond is its face value, (d) The value of an investment security is Its market value. Added by Acts 1993, 73rd Leg, ch. 268, ~ I, eff Sept. I, ] 993, Acts of 781h Leg efr, Sept. ], 2003. ~ 2257.023. Collateral Policy (a) In accordance with il written poliey approved by the govemmg body of the public entity, a public entity shaH dctennine if an investment security is eligible to secure deposits of public funds. (b) The \\.'T'itten policy may include: (1) the security of the institution that obtains orholds an investment security; (2) the substitution or release of an investment security; and (3) the method by which an investment security used to secure a deposit of publIc funds is valued. Added by Acts 1993, 73rd Leg. ch. 268, 9 ], eff. Sept. 1, 1993. City of San Marcos Investment Policy Page 34