Texas Government Code § 2306.207 Reserve Fund

Sec. 2306.207. RESERVE FUND. (a) The department may create a reserve fund with the comptroller out of:

(1) proceeds from the sale of the department's bonds; or

(2) other resources.

(b) The reserve fund is additional security for the division's bonds.

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg., ch. 980, Sec. 32, eff. Sept. 1, 1997; Acts 1997, 75th Leg., ch. 1423, Sec. 8.75, eff. Sept. 1, 1997.

Section: Previous  2306.188  2306.201  2306.202  2306.203  2306.204  2306.205  2306.206  2306.207  2306.221  2306.222  2306.223  2306.224  2306.225  2306.226  2306.227  Next

Last modified: September 28, 2016