Texas Special District Local Laws Code § 9701.153 Investment And Expenditure Of Principal

Sec. 9701.153. INVESTMENT AND EXPENDITURE OF PRINCIPAL. (a) The Red Bluff District shall invest the principal amount in accordance with Chapter 2256, Government Code.

(b) The Red Bluff District shall comply with Chapter 2257, Government Code, to the extent applicable.

(c) The Red Bluff District may not spend any portion of the principal amount unless the expenditure is approved by an affirmative vote of:

(1) the board of directors of the Red Bluff District; and

(2) the boards of directors of at least five member districts.

Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.04, eff. April 1, 2013.

Section: Previous  9701.001  9701.002  9701.003  9701.151  9701.152  9701.153

Last modified: September 28, 2016