|
•
<br />Ait't. 842a-2 BONDS-COUNTY. MUNICIPAL, ETC.
<br /> Title 22
<br />June 16, 1989; Sec. 2(b) amended by Acte 1989, 7 1st Leg., ch. 760, § 1, eff. June 16, 1989; Sec. 3(d)
<br />amended by Acts 1989, 71st Leg., ch. 760, § 2, eff. June 16, 1989; Sea 6 amended by Acts 1989, 71st
<br />Leg., ch. 628, § 2, eff. Aug. 28, 1989; Sec. 2(d) amended by Acts 1991, 72nd Leg., ch. 732, § 1, eff.
<br />Aug. 26, 1991.
<br />Historical and Statutory Notes _ Gaines County solid waste management, in-
<br />Acts 1989, 71st Leg., ch. 628, § 6 provides: vestments and reinvestments ea specified by this
<br />„
<br />This Act takes effect immediately, except article, see art. 4477-7j.
<br />Navigation districts, investment of bond pro-
<br />that Subsection (d), Section 2, Public FLnds In- ceeds, see V.T.C.A. Water Code, § 60.347.
<br />vestment Act of 1987 (Article 842a-2, Vernon's political subdivisions group benefits program
<br />
<br />Texas Civil Statutes), as •added by Section 1 of
<br />this Act
<br />takes effeck (1) immediately with re- ,
<br />investments, see V.T.C.A. Local Government
<br />,
<br />spect to institutions of higher education; and (2) Code, § 172.009.
<br />public Fhnds Collateral Act
<br />see art. 2529d.
<br />only if the conatitutionat amendment proposed ,
<br />Texas High-Speed Rail Authority
<br />investment
<br />by the 71st Legislature, Regular Session,-1989; ,
<br />of funds, see ark 6674v.2
<br />§ 20.
<br />[SJ.R. 69) authorizing local governments to in- ,
<br />vest their funds as provided by law is approved
<br />by the voters with respect to all other entities.
<br />If that amendment is not approved, Subsection Notes of Decisions
<br />(d) of Section 2 has no effect for entities other Delegation of authority 2
<br />than inatitutiona of higher education." Validity 1
<br />Acts 1989, 71st Leg., S.J.R. b9 was approved
<br />by the voters at the Nov. 7, 1989 election.
<br /> 1. Validity
<br />Title of Act: Insofar as this article purports to authorize
<br />An Act relating to the investment of public no
<br />t p
<br />ico
<br />~
<br />b
<br />
<br />funds. Acts 1987, 70th Leg., ch. 889. ,
<br />vea
<br />ubl
<br />funda in ban-o
<br />riented
<br />money mar-
<br /> ket mutual funds or other securities of private
<br />Cross References entities, it conflicts with article III, section 52, of
<br />College and university funds, investment ac- the Texas Constitution. Op.Atty.Gen.1988, No.
<br />JM-976.
<br />cording to this act, see V.T.C.A. Education Code,
<br />§ 61.003(b). •' 2. Delegation of authority
<br />County funds, investments, see V.T.C.A. Local The Interlocal Cooperation Act, article
<br />Government Code, § 116.112. 4413(32c), V.T.C.S., does not authorize local
<br />Crime control and prevention districts, boards governments to delegate to another entity their
<br />may not invest funds otherwise than ea specified authority to make investments; nor does article
<br />by this article or art. 836 or 837, see art. 2370o-• 842a-2, V.T.C.S., or article 4419(34c), authorize
<br />4, § 6.09. such delegation. Op.Atty.Gen.1986, No. JM-932.
<br />. ~ ~~ .. ..
<br />. , „-
<br />.. :.. ..
<br />,,.
<br />
<br />
|