This policy governs how Conroe ISD invests district funds, including the requirement that investments comply with the Public Funds Investment Act.
These are unofficial tracked changes based on board meeting records and may contain errors.
Consult
official CISD records for the authoritative text.
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2025-11-18adopted ·
Meeting notesThis update to Conroe ISD's CDA (Local) investment policy adds two new requirements: (1) a statement that District funds shall be invested in accordance with the Public Funds Investment Act, and (2) a requirement that distributors of investment pools be registered with the Texas State Securities Board, SIPC/FINRA, and also be a registrant in good standing with the Municipal Securities Rulemaking Board (MSRB).
Added
- Funds of the District shall be invested in accordance with the Public Funds Investment Act.
- and of distributors of investment pools
- Distributors of investment pools shall also be a registrant in good standing with the Municipal Securities Rulemaking Board (MSRB).
Legal Compliance Summary
AI-generated assessment. Verify citations independently before relying on this analysis.
- PFIA Compliance Statement: The updated policy adds a statement that District funds will be invested following the Public Funds Investment Act (Texas Government Code § 2256.005). The District chose to include this language as a formal policy commitment, rather than being required to do so by the statute itself.
- Investment Pool Distributor Registration: The policy now requires that distributors of investment pools be registered with the Texas State Securities Board and SIPC/FINRA, referencing Texas Government Code § 2256.016. This registration requirement reflects a standard the District selected on its own, as no verified statutory language was found that specifically compels or permits this exact requirement.
- MSRB Good Standing Requirement: The policy also requires that investment pool distributors be in good standing with the Municipal Securities Rulemaking Board (MSRB), referencing Texas Government Code § 2256.016. This is an additional standard the District added beyond what the cited statute was confirmed to require or expressly allow.
- Overall Classification: All three changes in this policy update are classified as Locally Discretionary, meaning the District made these additions based on its own judgment rather than a direct state law mandate. No litigation related to any of these provisions was identified.
Legal Compliance Details Locally Discretionary
AI-generated assessment. Verify citations independently before relying on this analysis.
District funds shall be invested in accordance with the Public Funds Investment Act Locally DiscretionaryStatutory basis: Texas Government Code § 2256.005 (cited but no verbatim quote provided in statute analysis)
Verified via: unverified
Local additions: District adopted a policy statement affirming PFIA compliance; the statute analysis contains no verbatim requirement text to ground a 'Required by Law' classification under the grounding rule
Distributors of investment pools must be registered with Texas State Securities Board and SIPC/FINRA Locally DiscretionaryStatutory basis: Texas Government Code § 2256.016 (cited but no verbatim quote provided in statute analysis)
Verified via: unverified
Local additions: District imposed registration requirements for investment pool distributors with the Texas State Securities Board and SIPC/FINRA; no supporting statutory quote exists in the provided statute analysis to establish compulsion or express permission
Distributors of investment pools must be registrants in good standing with the Municipal Securities Rulemaking Board (MSRB) Locally DiscretionaryStatutory basis: Texas Government Code § 2256.016 (cited but no verbatim quote provided in statute analysis)
Verified via: unverified
Local additions: District added an MSRB good-standing requirement for investment pool distributors beyond any language found in the statute analysis; this represents a locally chosen standard not grounded in a verified statutory quote
2025-10-21first_reading ·
Meeting notesThis update to Conroe ISD's CDA (Local) Investment Policy adds a sentence requiring District funds to be invested in accordance with the Public Funds Investment Act, and expands broker/dealer registration requirements to include distributors of investment pools, who must also be registered with the Municipal Securities Rulemaking Board (MSRB).
Added
- Funds of the District shall be invested in accordance with the Public Funds Investment Act.
- and of distributors of investment pools
- Distributors of investment pools shall also be a registrant in good standing with the Municipal Securities Rulemaking Board (MSRB).