The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise.

1. (1) Authority--The Texas Water Resources Finance Authority.
2. (2) Authorized dealers--Those dealers who have been approved to do business with the board and authority.
3. (3) Board--The Texas Water Development Board.
4. (4) Dealer--A business organization offering to engage in an investment transaction with the board or authority.
5. (5) Development fund manager--The development fund manager of the Texas Water Development Board or a designated representative.
6. (6) Executive administrator--The executive administrator of the Texas Water Development Board or a designated representative.
7. (7) HUB--Historically Underutilized Business (HUB) that is currently certified by the Texas General Services Commission as a HUB.
8. (8) Internal auditor--The Director of Internal Audit employed by the Texas Water Development Board.
9. (9) Investment officer--The Audit and Funds Management Director of the Texas Water Development Board or any other person authorized by the board or executive administrator to invest funds of the board or authority.
10. (10) Portfolio--The investments held by the Texas Water Development Board or the Texas Water Resources Finance Authority.
11. (11) Primary dealer--A dealer that provides a complete market in United States Treasury securities and that reports to the Federal Reserve Bank of New York.

12. (12) Qualified representative--A person who holds a position with a business organization, who is authorized to act on behalf of the business organization, and who is one of the following:

    1. (A) for a business organization doing business that is regulated by or registered with a securities commission, a person who is registered under the rules of the National Association of Securities Dealers;
    2. (B) for a state or federal bank, a savings bank, or a state or federal credit union, a member of the loan committee for the bank or branch of the bank or a person authorized by corporate resolution to act on behalf of and bind the banking institution; or
    3. (C) for an investment pool, the person authorized by the elected official or board with authority to administer the activities of the investment pool to sign the written instrument on behalf of the investment pool.
13. (13) Secondary dealer--A dealer that specializes in various investment markets but is not monitored by the Federal Reserve Bank of New York.
14. (14) U.S. government agencies--The Federal Home Loan Bank, the Federal National Mortgage Association and the Government National Mortgage Association.

Source Note:The provisions of this §365.2 adopted to be effective November 11, 1994, 19 TexReg 8615; amended to be effective June 6, 1996, 21 TexReg 4816; amended to be effective December 11, 1997, 22 TexReg 12075; amended to be effective February 16, 1999, 24 TexReg 766; amended to be effective February 15, 2000, 25 TexReg 1122.