Texas Special District Local Laws Code § 1046.160 Spending And Investment Restrictions

Sec. 1046.160. SPENDING AND INVESTMENT RESTRICTIONS. (a) Except as otherwise provided by Section 1046.108(c), Section 1046.161, and Subchapter E, the district may not incur an obligation payable from district revenue other than the revenue on hand or to be on hand in the current and following district fiscal years.

(b) The board may invest operating, depreciation, or building reserves only in funds or securities specified by Chapter 2256, Government Code.

Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

Section: Previous  1046.153  1046.154  1046.155  1046.156  1046.157  1046.158  1046.159  1046.160  1046.161  1046.201  1046.202  1046.203  1046.204  1046.205  1046.206  Next

Last modified: September 28, 2016