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Texas Health and Safety Code - HEALTH & SAFETY § 287.129. Spending and Investment Limitations

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Except for construction contracts under Section 287.077(a) or as provided by Sections 287.142 and 287.143, the district may not incur a debt payable from revenues of the district other than the revenues on hand or to be on hand in the current and immediately following fiscal year of the district.

(b) The board may invest operating, depreciation, or building reserves only in:

(1) bonds of the United States;

(2) certificates of indebtedness issued by the United States secretary of the treasury;

(3) bonds of this state or a county, municipality, or school district of this state;  or

(4) shares or share accounts of savings and loan associations organized under the laws of this state or federal savings and loan associations domiciled in this state, if the shares or share accounts are insured by the Federal Deposit Insurance Corporation.

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Cite this article: FindLaw.com - Texas Health and Safety Code - HEALTH & SAFETY § 287.129. Spending and Investment Limitations - last updated January 01, 2024 | https://codes.findlaw.com/tx/health-and-safety-code/health-safety-sect-287-129/

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