SENATE COMMITTEE ON FINANCE 
                     Interim Subcommittee on State Investments 
                              Wednesday, June 14, 2000 
                                     10:00 a.m. 
                           Capitol Extension, Room E1.036 
         Pursuant to a notice posted in accordance with Senate Rule  
         11.18, a public hearing of the Senate Committee on Finance was  
         held on Wednesday, June 14, 2000, in the Capitol Extension, Room  
         E1.036, at Austin, Texas. 
         MEMBERS PRESENT:                        MEMBERS ABSENT: 
         Senator Robert Duncan, Chairman         Senator Gonzalo  
         Senator Carlos Truan                    Senator Troy Fraser 
                                                 Senator Steve Ogden 
         The chair called the meeting to order at 10:10 a.m.  Senator  
         Ratliff, Chairman of the Senate Finance Committee, participated  
         in the discussions.  The following business was transacted: 
         Invited Testimony:  
              David Anderson and Paul Ballard, representing Texas  
              Education Agency, provided an overview of the agency's fund  
              investment management structure; 
              Bob Offutt, representing the State Board of Education,  
              provided an overview of the agency's fund investment  
              management structure. 
         There being no further business, at 12:15 p.m. Senator Duncan  
         announced that the Committee will stand recessed subject to the  
         call of the chair.  Without objection, it was so ordered.   
         Senator Robert Duncan, Chair 
         Amber Martin, Clerk