Texas Government Code 404.001 – Definitions
Terms Used In Texas Government Code 404.001
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Contract: A legal written agreement that becomes binding when signed.
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
In this chapter:
(1) Repealed by Acts 1997, 75th Leg., ch. 891, Sec. 3.22(2), eff. Sept. 1, 1997.
(2) “Demand deposit” means a deposit that is payable on demand.
(3) “Direct security repurchase agreement” means an agreement under which the state buys, holds for a specified time, and then sells back any of the following securities, obligations, or participation certificates:
(A) United States government securities;
(B) direct obligations of or obligations the principal and interest of which are guaranteed by the United States; or
(C) direct obligations of or obligations guaranteed by agencies or instrumentalities of the United States government.
(4) “Market value” means the fair and reasonable prevailing price at which a security is being sold on the open market at the time of the appraisement of the security by the comptroller.
(5) “Reverse security repurchase agreement” means an agreement under which the state sells and after a specified time buys back any of the securities, obligations, or participation certificates listed in Paragraphs (A) through (C), Subdivision (3).
(6) “State depository” means an institution designated as a state depository under Subchapter C.
(7) “Time deposit” means a deposit for which there is in force a contract providing that neither the whole nor a part of the deposit may be withdrawn by check or otherwise before the expiration of the period of notice that must be given in writing in advance of a withdrawal.
(8) “Treasury” means state funds subject to the custody and control of the comptroller and available for appropriation by the legislature.