Laserfiche WebLink
B. Secured by obligations that are described by Subdivi- <br />sions 1-4 of this subsection which are intended to include <br />all direct federal agencies or instrumentality issued <br />mortgage-backed securites that have a market value of <br />not less than the principal amount of the certificates; and <br />8. Such other investments as may be authorized by Tex. Rev. Civ. <br />Stat. art. 842a-2, as amended. <br />TexPool is designed to be highly liquid in order to give participants immediate <br />access to their account balance. Therefore, the weighted average maturity of <br />the investments of TexPool will not exceed 120 days. The Treasury's Invest- <br />ment Division determines the actual weighted average maturity within this <br />120-day maximum based upon market conditions and previously stated <br />objectives of TexPool. <br />Only selected broker/dealers and Texas financial institutions are utilized for <br />investment activities. The approved list is subject to the determination and <br />review of the Treasury's Investment Division. <br />Any available funds that are un-invested are held in the Federal Reserve <br />Bank account of the Trust Co. This investment program provides for the total <br />safety of TexPool. <br />The investment policy for TexPool is submitted to the Advisory Board for <br />periodic review and approval. <br />CUSTODIAN OF SECURITIES <br />All investment assets and collateral will be in the sole possession of the Trust <br />Co. in its book-entry safekeeping account at the Federal Reserve Bank. Only <br />extraordinary events (i.e, late investments or Federal Reserve System <br />problems) could temporarily affect the location of TexPool's assets. <br />-4- <br />