Texas Special District Local Laws Code § 3001.151 Powers And Duties Related To Finances

Sec. 3001.151. POWERS AND DUTIES RELATED TO FINANCES. (a) The district may:

(1) acquire and dispose of money;

(2) impose a charge for using a facility or a service the district provides;

(3) issue an obligation as provided by this subchapter;

(4) borrow money;

(5) loan money;

(6) invest money under its control in an investment permitted by Chapter 2256, Government Code;

(7) select a depository;

(8) establish a system of accounts for the district; and

(9) set the fiscal year for the district.

(b) The district shall endeavor to raise revenue sufficient to pay the district's debts.

(c) The board by rule shall establish the procedure and number of directors' signatures required to disburse or transfer district money.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Last modified: September 28, 2016