reglab/housing_qa huggingface dataset:
TX Govt Code § 2256.0201 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter A. Authorized Investments for Governmental Entities|Section 2256.0201. Authorized Investments; Municipal Utility

Sec. 2256.0201.  AUTHORIZED INVESTMENTS;  MUNICIPAL UTILITY.  (a)  A municipality that owns a municipal electric utility that is engaged in the distribution and sale of electric energy or natural gas to the public may enter into a hedging contract and related security and insurance agreements in relation to fuel oil, natural gas, coal, nuclear fuel, and electric energy to protect against loss due to price fluctuations.  A hedging transaction must comply with the regulations of the Commodity Futures Trading Commission and the Securities and Exchange Commission.  If there is a conflict between the municipal charter of the municipality and this chapter, this chapter prevails.(b)  A payment by a municipally owned electric or gas utility under a hedging contract or related agreement in relation to fuel supplies or fuel reserves is a fuel expense, and the utility may credit any amounts it receives under the contract or agreement against fuel expenses.(c)  The governing body of a municipally owned electric or gas utility or the body vested with power to manage and operate the municipally owned electric or gas utility may set policy regarding hedging transactions.(d)  In this section, "hedging" means the buying and selling of fuel oil, natural gas, coal, nuclear fuel, and electric energy futures or options or similar contracts on those commodities and related transportation costs as a protection against loss due to price fluctuation.|Added by Acts 1999, 76th Leg., ch. 405, Sec. 48, eff. Sept. 1, 1999.Amended by: Acts 2007, 80th Leg., R.S., Ch. 7 (S.B. 495), Sec. 1, eff. April 13, 2007.|
TX Govt Code § 2256.0202 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter A. Authorized Investments for Governmental Entities|Section 2256.0202. Authorized Investments: Municipal Funds From Management and Development of Mineral Rights

Sec. 2256.0202.  AUTHORIZED INVESTMENTS:  MUNICIPAL FUNDS FROM MANAGEMENT AND DEVELOPMENT OF MINERAL RIGHTS.  (a)  In addition to other investments authorized under this subchapter, a municipality may invest funds received by the municipality from a lease or contract for the management and development of land owned by the municipality and leased for oil, gas, or other mineral development in any investment authorized to be made by a trustee under Subtitle B, Title 9, Property Code (Texas Trust Code).(b)  Funds invested by a municipality under this section shall be segregated and accounted for separately from other funds of the municipality.|Added by Acts 2009, 81st Leg., R.S., Ch. 1371 (S.B. 894), Sec. 1, eff. September 1, 2009.|
TX Govt Code § 2256.0203 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter A. Authorized Investments for Governmental Entities|Section 2256.0203. Authorized Investments: Ports and Navigation Districts

Sec. 2256.0203.  AUTHORIZED INVESTMENTS: PORTS AND NAVIGATION DISTRICTS. (a) In this section, "district" means a navigation district organized under Section 52, Article III, or Section 59, Article XVI, Texas Constitution.(b)  In addition to the authorized investments permitted by this subchapter, a port or district may purchase, sell, and invest its funds and funds under its control in negotiable certificates of deposit issued by a bank that has a certificate of deposit rating of at least 1 or the equivalent by a nationally recognized credit rating agency or that is associated with a holding company having a commercial paper rating of at least A-1, P-1, or the equivalent by a nationally recognized credit rating agency.|Added by Acts 2011, 82nd Leg., R.S., Ch. 804 (H.B. 2346), Sec. 1, eff. September 1, 2011.|
TX Govt Code § 2256.0205 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter A. Authorized Investments for Governmental Entities|Section 2256.0205. Authorized Investments; Decommissioning Trust

Sec. 2256.0205.  AUTHORIZED INVESTMENTS; DECOMMISSIONING TRUST.  (a)  In this section:(1)  "Decommissioning trust" means a trust created to provide the Nuclear Regulatory Commission assurance that funds will be available for decommissioning purposes as required under 10 C.F.R. Part 50 or other similar regulation.(2)  "Funds" includes any money held in a decommissioning trust regardless of whether the money is considered to be public funds under this subchapter.(b)  In addition to other investments authorized under this subchapter, a municipality that owns a municipal electric utility that is engaged in the distribution and sale of electric energy or natural gas to the public may invest funds held in a decommissioning trust in any investment authorized by Subtitle B, Title 9, Property Code.|Added by Acts 2005, 79th Leg., Ch. 121 (S.B. 1464), Sec. 1, eff. September 1, 2005.|
TX Govt Code § 2256.0206 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter A. Authorized Investments for Governmental Entities|Section 2256.0206. Authorized Investments: Hedging Transactions

Sec. 2256.0206.  AUTHORIZED INVESTMENTS: HEDGING TRANSACTIONS.  (a)  In this section:(1)  "Eligible entity" means a political subdivision that has:(A)  a principal amount of at least $250 million in:(i)  outstanding long-term indebtedness;(ii)  long-term indebtedness proposed to be issued; or(iii)  a combination of outstanding long-term indebtedness and long-term indebtedness proposed to be issued; and(B)  outstanding long-term indebtedness that is rated in one of the four highest rating categories for long-term debt instruments by a nationally recognized rating agency for municipal securities, without regard to the effect of any credit agreement or other form of credit enhancement entered into in connection with the obligation.(2)  "Eligible project" has the meaning assigned by Section 1371.001.(3)  "Hedging" means acting to protect against economic loss due to price fluctuation of a commodity or related investment by entering into an offsetting position or using a financial agreement or producer price agreement in a correlated security, index, or other commodity.(b)  This section prevails to the extent of any conflict between this section and:(1)  another law; or(2)  an eligible entity's municipal charter, if applicable.(c)  The governing body of an eligible entity shall establish the entity's policy regarding hedging transactions.(d)  An eligible entity may enter into hedging transactions, including hedging contracts, and related security, credit, and insurance agreements in connection with commodities used by an eligible entity in the entity's general operations, with the acquisition or construction of a capital project, or with an eligible project.  A hedging transaction must comply with the regulations of the federal Commodity Futures Trading Commission and the federal Securities and Exchange Commission.(e)  An eligible entity may pledge as security for and to the payment of a hedging contract or a security, credit, or insurance agreement any general or special revenues or funds the entity is authorized by law to pledge to the payment of any other obligation.(f)  Section 1371.059(c) applies to the execution by an eligible entity of a hedging contract and any related security, credit, or insurance agreement.(g)  An eligible entity may credit any amount the entity receives under a hedging contract against expenses associated with a commodity purchase.(h)  An eligible entity's cost of or payment under a hedging contract or agreement may be considered:(1)  an operation and maintenance expense of the eligible entity;(2)  an acquisition expense of the eligible entity;(3)  a project cost of an eligible project; or(4)  a construction expense of the eligible entity.|Added by Acts 2017, 85th Leg., R.S., Ch. 773 (H.B. 1003), Sec. 7, eff. June 14, 2017.|
TX Govt Code § 2256.0207 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter A. Authorized Investments for Governmental Entities|Section 2256.0207. Authorized Investments: Public Junior College District Funds From Management and Development of Mineral Rights

Sec. 2256.0207.  AUTHORIZED INVESTMENTS: PUBLIC JUNIOR COLLEGE DISTRICT FUNDS FROM MANAGEMENT AND DEVELOPMENT OF MINERAL RIGHTS.  (a)  In addition to other investments authorized under this subchapter, the governing board of a public junior college district may invest funds received by the district from a lease or contract for the management and development of land owned by the district and leased for oil, gas, or other mineral development in any investment authorized to be made by a trustee under Subtitle B, Title 9, Property Code (Texas Trust Code).(b)  Funds invested by the governing board of a public junior college district under this section shall be segregated and accounted for separately from other funds of the district.|Added by Acts 2017, 85th Leg., R.S., Ch. 344 (H.B. 1472), Sec. 1, eff. September 1, 2017.Redesignated from Government Code, Section 2256.0206 by Acts 2019, 86th Leg., R.S., Ch. 467 (H.B. 4170), Sec. 21.001(34), eff. September 1, 2019.|
TX Govt Code § 2256.0208 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter A. Authorized Investments for Governmental Entities|Section 2256.0208. Local Government Investment of Bond Proceeds and Pledged Revenue

Sec. 2256.0208.  LOCAL GOVERNMENT INVESTMENT OF BOND PROCEEDS AND PLEDGED REVENUE.  (a)  In this section, "pledged revenue" means money pledged to the payment of or as security for:(1)  bonds or other indebtedness issued by a local government;(2)  obligations under a lease, installment sale, or other agreement of a local government; or(3)  certificates of participation in a debt or obligation described by Subdivision (1) or (2).(b)  The investment officer of a local government may invest bond proceeds or pledged revenue only to the extent permitted by this chapter, in accordance with:(1)  statutory provisions governing the debt issuance or the agreement, as applicable; and(2)  the local government's investment policy regarding the debt issuance or the agreement, as applicable.|Added by Acts 2019, 86th Leg., R.S., Ch. 1133 (H.B. 2706), Sec. 4, eff. September 1, 2019.|
TX Govt Code § 2256.021 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter A. Authorized Investments for Governmental Entities|Section 2256.021. Effect of Loss of Required Rating

Sec. 2256.021.  EFFECT OF LOSS OF REQUIRED RATING.  An investment that requires a minimum rating under this subchapter does not qualify as an authorized investment during the period the investment does not have the minimum rating.  An entity shall take all prudent measures that are consistent with its investment policy to liquidate an investment that does not have the minimum rating.|Added by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.|
TX Govt Code § 2256.022 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter A. Authorized Investments for Governmental Entities|Section 2256.022. Expansion of Investment Authority

Sec. 2256.022.  EXPANSION OF INVESTMENT AUTHORITY.  Expansion of investment authority granted by this chapter shall require a risk assessment by the state auditor or performed at the direction of the state auditor, subject to the legislative audit committee's approval of including the review in the audit plan under Section 321.013.|Added by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.  Amended by Acts 2003, 78th Leg., ch. 785, Sec. 42, eff. Sept. 1, 2003.|
TX Govt Code § 2256.023 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter A. Authorized Investments for Governmental Entities|Section 2256.023. Internal Management Reports

Sec. 2256.023.  INTERNAL MANAGEMENT REPORTS.  (a)  Not less than quarterly, the investment officer shall prepare and submit to the governing body of the entity a written report of investment transactions for all funds covered by this chapter for the preceding reporting period.(b)  The report must:(1)  describe in detail the investment position of the entity on the date of the report;(2)  be prepared jointly by all investment officers of the entity;(3)  be signed by each investment officer of the entity;(4)  contain a summary statement of each pooled fund group that states the:(A)  beginning market value for the reporting period;(B)   ending market value for the period; and(C)  fully accrued interest for the reporting period;(5)  state the book value and market value of each separately invested asset at the end of the reporting period by the type of asset and fund type invested;(6)  state the maturity date of each separately invested asset that has a maturity date;(7)  state the account or fund or pooled group fund in the state agency or local government for which each individual investment was acquired; and(8)  state the compliance of the investment portfolio of the state agency or local government as it relates to:(A)  the investment strategy expressed in the agency's or local government's investment policy; and(B)  relevant provisions of this chapter.(c)  The report shall be presented not less than quarterly to the governing body and the chief executive officer of the entity within a reasonable time after the end of the period.(d)  If an entity invests in other than money market mutual funds, investment pools or accounts offered by its depository bank in the form of certificates of deposit, or money market accounts or similar accounts, the reports prepared by the investment officers under this section shall be formally reviewed at least annually by an independent auditor, and the result of the review shall be reported to the governing body by that auditor.|Added by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.  Amended by Acts 1997, 75th Leg., ch. 1421, Sec. 12, eff. Sept. 1, 1997.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 1004 (H.B. 2226), Sec. 9, eff. June 17, 2011.|
TX Govt Code § 2256.024 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter A. Authorized Investments for Governmental Entities|Section 2256.024. Subchapter Cumulative

Sec. 2256.024.  SUBCHAPTER CUMULATIVE.  (a)  The authority granted by this subchapter is in addition to that granted by other law.  Except as provided by Subsection (b) and Section 2256.017, this subchapter does not:(1)  prohibit an investment specifically authorized by other law; or(2)  authorize an investment specifically prohibited by other law.(b)  Except with respect to those investing entities described in Subsection (c), a security described in Section 2256.009(b) is not an authorized investment for a state agency, a local government, or another investing entity, notwithstanding any other provision of this chapter or other law to the contrary.(c)  Mortgage pass-through certificates and individual mortgage loans that may constitute an investment described in Section 2256.009(b) are authorized investments with respect to the housing bond programs operated by:(1)  the Texas Department of Housing and Community Affairs or a nonprofit corporation created to act on its behalf;(2)  an entity created under Chapter 392, Local Government Code;  or(3)  an entity created under Chapter 394, Local Government Code.|Added by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.Amended by: Acts 2017, 85th Leg., R.S., Ch. 96 (S.B. 253), Sec. 3, eff. May 23, 2017.|
TX Govt Code § 2256.025 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter A. Authorized Investments for Governmental Entities|Section 2256.025. Selection of Authorized Brokers

Sec. 2256.025.  SELECTION OF AUTHORIZED BROKERS.  The governing body of an entity subject to this subchapter or the designated investment committee of the entity shall, at least annually, review, revise, and adopt a list of qualified brokers that are authorized to engage in investment transactions with the entity.|Added by Acts 1997, 75th Leg., ch. 1421, Sec. 13, eff. Sept. 1, 1997.|
TX Govt Code § 2256.026 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter A. Authorized Investments for Governmental Entities|Section 2256.026. Statutory Compliance

Sec. 2256.026.  STATUTORY COMPLIANCE.  All investments made by entities must comply with this subchapter and all federal, state, and local statutes, rules, or regulations.|Added by Acts 1997, 75th Leg., ch. 1421, Sec. 13, eff. Sept. 1, 1997.|
TX Govt Code § 2256.051 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter B. Miscellaneous Provisions|Section 2256.051. Electronic Funds Transfer

Sec. 2256.051.  ELECTRONIC FUNDS TRANSFER.  Any local government may use electronic means to transfer or invest all funds collected or controlled by the local government.|Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.|
TX Govt Code § 2256.052 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter B. Miscellaneous Provisions|Section 2256.052. Private Auditor

Sec. 2256.052.  PRIVATE AUDITOR.  Notwithstanding any other law, a state agency shall employ a private auditor if authorized by the legislative audit committee either on the committee's initiative or on request of the governing body of the agency.|Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.|
TX Govt Code § 2256.053 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter B. Miscellaneous Provisions|Section 2256.053. Payment for Securities Purchased by State

Sec. 2256.053.  PAYMENT FOR SECURITIES PURCHASED BY STATE.  The comptroller or the disbursing officer of an agency that has the power to invest assets directly may pay for authorized securities purchased from or through a member in good standing of the National Association of Securities Dealers or from or through a national or state bank on receiving an invoice from the seller of the securities showing that the securities have been purchased by the board or agency and that the amount to be paid for the securities is just, due, and unpaid.  A purchase of securities may not be made at a price that exceeds the existing market value of the securities.|Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 8.67, eff. Sept. 1, 1997.|
TX Govt Code § 2256.054 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter B. Miscellaneous Provisions|Section 2256.054. Delivery of Securities Purchased by State

Sec. 2256.054.  DELIVERY OF SECURITIES PURCHASED BY STATE.  A security purchased under this chapter may be delivered to the comptroller, a bank, or the board or agency investing its funds.  The delivery shall be made under normal and recognized practices in the securities and banking industries, including the book entry procedure of the Federal Reserve Bank.|Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 8.68, eff. Sept. 1, 1997.|
TX Govt Code § 2256.055 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2256 - Public Funds Investment|Subchapter B. Miscellaneous Provisions|Section 2256.055. Deposit of Securities Purchased by State

Sec. 2256.055.  DEPOSIT OF SECURITIES PURCHASED BY STATE.  At the direction of the comptroller or the agency, a security purchased under this chapter may be deposited in trust with a bank or federal reserve bank or branch designated by the comptroller, whether in or outside the state.  The deposit shall be held in the entity's name as evidenced by a trust receipt of the bank with which the securities are deposited.|Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 8.69, eff. Sept. 1, 1997.|
TX Govt Code § 2257.001 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2257 - Collateral for Public Funds|Subchapter A. General Provisions|Section 2257.001. Short Title

Sec. 2257.001.  SHORT TITLE.  This chapter may be cited as the Public Funds Collateral Act.|Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.|
TX Govt Code § 2257.0025 (2021)
2021 Texas Statutes|Government Code|Title 10 - General Government|Subtitle F - State and Local Contracts and Fund Management|Chapter 2257 - Collateral for Public Funds|Subchapter A. General Provisions|Section 2257.0025. High-Risk Mortgage Security

Sec. 2257.0025.  HIGH-RISK MORTGAGE SECURITY.  (a)  For purposes of this chapter, a fixed-rate collateralized mortgage obligation is a high-risk mortgage security if the security:(1)  has an average life sensitivity with a weighted average life that:(A)  extends by more than four years, assuming an immediate and sustained parallel shift in the yield curve of plus 300 basis points;  or(B)  shortens by more than six years, assuming an immediate and sustained parallel shift in the yield curve of minus 300 basis points;  and(2)  is price sensitive;  that is, the estimated change in the price of the mortgage derivative product is more than 17 percent, because of an immediate and sustained parallel shift in the yield curve of plus or minus 300 basis points.(b)  For purposes of this chapter, a floating-rate collateralized mortgage obligation is a high-risk mortgage security if the security:(1)  bears an interest rate that is equal to the contractual cap on the instrument;  or(2)  is price sensitive;  that is, the estimated change in the price of the mortgage derivative product is more than 17 percent, because of an immediate and sustained parallel shift in the yield curve of plus or minus 300 basis points.|Added by Acts 1997, 75th Leg., ch. 254, Sec. 2, eff. Sept. 1, 1997.|