Texas Special District Local Laws Code
Sec. § 1068.160
Spending and Investment Restrictions

(a)

Except as provided by Sections 1068.111 (Construction Contracts), 1068.201 (General Obligation Bonds), 1068.204 (Revenue Bonds), and 1068.205 (Refunding Bonds), the district may not incur a debt payable from district revenue other than the revenue on hand or to be on hand in the current and immediately following district fiscal years.

(b)

The board may invest operating, depreciation, or building reserves only in funds or securities specified by Chapter 2256 (Public Funds Investment), Government Code.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.
Source
Tex. Legislature
Last accessed
Jul. 14, 2020
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