For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
BOND PROCEEDS. The proceeds from the sale of bonds, notes and other obligations issued by the town and reserves and funds maintained by the town for debt service purposes.
BOOK VALUE. The original acquisition cost of an investment plus or minus the accrued amortization or accretion.
DEBT SERVICE FUNDS. The funds which by ordinance or law must be accumulated and are restricted to the payment of debt.
FUNDS. Public funds in the custody of the town that the town has the authority to invest.
INVESTMENT. An individual security or participation in an investment pool or qualified mutual fund.
INVESTMENT POOL. An entity created under Public Funds Investment Act (Tex. Gov’t Code, Chapter 2256) to invest public funds jointly on behalf of the entities that participate in the pool and whose investment objectives in order of priority are:
(1) Preservation and safety of principal;
(2) Liquidity; and
(3) Yield.
MARKET VALUE. The face or par value of an investment multiplied by the price quoted on the valuation date.
POOLED FUND GROUP. An internally created fund of the town in which one or more institutional accounts (accounting funds) are invested.
RESERVE FUNDS. The funds which by ordinance or law must be accumulated and are restricted to the payment of debt in the event debt service funds are insufficient to meet debt service obligations.
SEPARATELY INVESTED ASSET. An account or fund (accounting fund) of the town that is not invested in a pooled fund group.
TOWN. The Town of Holiday Lakes, Texas.
(Res. 2009-01, passed 3-7-2009)