Texas Special District Local Laws Code § 1057.206 Investment Of General Obligation Bond Proceeds

Sec. 1057.206. INVESTMENT OF GENERAL OBLIGATION BOND PROCEEDS. Until the proceeds from the sale of general obligation bonds are needed to carry out the bond purpose, the proceeds may be:

(1) invested in direct obligations of the United States; or

(2) placed on time deposit.

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

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Last modified: September 28, 2016