Tex. Educ. Code § 45.112 · Subchapter E. MISCELLANEOUS PROVISIONS
CONTRACTS FOR INVESTMENT OF DEBT SERVICE FUNDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A school district, including a junior college district or community college district, may enter into a contract with a term not to exceed seven years to purchase investments with the proceeds of taxes levied or to be levied by the district for the purpose of paying debt service on bonds issued by the district.
(b) A contract under this section may provide for the purchase of investments at a stated yield or yields.
(c) Before entering a contract under this section, a school district must solicit and receive bids from at least three separate providers. The district must accept the qualifying bid that provides for the highest yield investments over the term of the contract.
(d) A contract under this section may provide only for the purchase of an obligation described by Section 2256.009(a)(1), Government Code, other than an obligation described by Section 2256.009(b) of that code.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 1535, Sec. 1, eff. June 19, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.45.htm
- Text hash
- sha256 0fcead60c2a4c3c9b830a282157646016fb8b1ef3eaf34b768da02862f72d242
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
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