Tex. Gov't Code § 1471.026 · Subchapter B. ISSUANCE OF BONDS
INVESTMENT OF SINKING FUNDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The commissioners court may invest money in a sinking fund accumulated for the redemption and payment of any bonds issued under this chapter in:
(1) bonds of the United States, this state, or a county, municipality, school district, or road district of this state;
(2) bonds of the federal Farm Credit System; or
(3) certificates of indebtedness issued by the secretary of the treasury of the United States.
(b) Sinking funds accumulated for the redemption and payment of bonds issued under this chapter may not be invested in bonds the terms of which provide for a maturity date after the date of maturity of the bonds for which the sinking fund was created.
(c) Interest on an investment shall be applied to the sinking fund associated with the investment.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1471.htm
- Text hash
- sha256 9d8258293565d90623db433028480ebecfd956f97bdef0f3d5d554c64f9cc011
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.