SENATE RESOLUTION NO. 681
         WHEREAS, B. Holland Timmins is retiring from his role as
  the chief executive officer of the Texas Permanent School Fund
  Corporation on May 31, 2023, drawing to a close an outstanding
  career in state investment that has spanned four decades; and
         WHEREAS, A seventh-generation Texan and the grandson of a
  public school history teacher, Mr. Timmins began his career
  serving the Lone Star State in 1983; over the course of his
  23-year tenure with the Texas Permanent School Fund Corporation,
  the organization's value has grown from $17 billion to more than
  $50 billion, and its returns have exceeded the benchmark and
  provided an additional value of $1.3 billion to the fund; and
         WHEREAS, Along the way, Mr. Timmins has partnered with the
  State Board of Education to achieve intergenerational equity for
  all students while protecting the Texas Permanent School Fund,
  and $18 billion has been distributed to public education over the
  last 18 years; following the adoption of a constitutional
  amendment in 2003, he worked with the State Board of Education to
  direct the transition of the fund from a traditional
  stocks-and-bonds income-based investment portfolio to a modern
  and diversified total-return investment portfolio; he has also
  overseen the successful transition of the Texas Permanent School
  Fund's assets and management to the Texas Permanent School Fund
  Corporation, a complex effort that merged investments and staff
  from two separate state entities into a stand-alone, top-tier
  corporation; and
         WHEREAS, Under this esteemed professional's able
  leadership, the Texas Permanent School Fund Corporation has
  earned numerous honors; the organization was named the Sovereign
  Wealth Fund of the Year at the 17th Annual Hedge Fund Industry
  Awards and the Global Real Estate Investor of the Year at the 2019
  IPE Real Estate Global Conference & Awards; it has also been
  recognized with the Certificate of Achievement for Excellence in
  Financial Reporting by the Government Finance Officers
  Association for the past eight consecutive years; and
         WHEREAS, Throughout his career, Holland Timmins has
  greatly benefited the State of Texas and its public schools, and
  he has earned the lasting respect and admiration of his
  colleagues and fellow citizens alike; now, therefore, be it
         RESOLVED, That the Senate of the State of Texas, 88th
  Legislature, hereby congratulate B. Holland Timmins on his
  retirement as the chief executive officer of the Texas Permanent
  School Fund Corporation and extend to him sincere best wishes for
  the future; and, be it further
         RESOLVED, That an official copy of this Resolution be
  prepared for Mr. Timmins as an expression of high regard from the
  Texas Senate.
 
  Eckhardt
   
   
   
    ________________________________ 
        President of the Senate
     
        I hereby certify that the
    above Resolution was adopted by
    the Senate on May 26, 2023.
   
   
   
    ________________________________ 
        Secretary of the Senate
   
   
   
    ________________________________ 
         Member, Texas Senate