Texas Special District Local Laws Code - SDLL § 1114.157. Spending and Investment Restrictions

(a) Except as otherwise provided by Section 1114.106(b) and by 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. (Acts 62nd Leg., R.S., Ch. 323, Secs. 6(a) (part), 11 (part).)