By King of Parker H.B. No. 2957 77R8465 JJT-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to authorized investments for certain public money. 1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-4 SECTION 1. Section 2256.009(a), Government Code, is amended 1-5 to read as follows: 1-6 (a) Except as provided by Subsection (b), the following are 1-7 authorized investments under this subchapter: 1-8 (1) obligations, including letters of credit, of the 1-9 United States or its agencies and instrumentalities; 1-10 (2) direct obligations of this state or its agencies 1-11 and instrumentalities; 1-12 (3) collateralized mortgage obligations directly 1-13 issued by a federal agency or instrumentality of the United States, 1-14 the underlying security for which is guaranteed by an agency or 1-15 instrumentality of the United States; 1-16 (4) other obligations, the principal and interest of 1-17 which are unconditionally guaranteed or insured by, or backed by 1-18 the full faith and credit of, this state or the United States or 1-19 their respective agencies and instrumentalities; 1-20 (5) obligations of states, agencies, counties, cities, 1-21 and other political subdivisions of any state rated as to 1-22 investment quality by a nationally recognized investment rating 1-23 firm not less than A or its equivalent; and 1-24 (6) bonds issued, assumed, or guaranteed by the State 2-1 of Israel. 2-2 SECTION 2. This Act takes effect September 1, 2001.