Tex. Gov't Code § 1503.009 · Subchapter A. REVENUE BONDS FOR AIRPORTS
INVESTMENT OF BOND PROCEEDS AND FUNDS.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The bond proceeds, until they are needed for the purpose for which the bonds were issued, may be invested in direct obligations of the United States, placed on time deposit, or both.
(b) Money in an interest and sinking fund, reserve fund, or any other fund established or provided for in the ordinance authorizing the bonds may be invested in the manner and in the securities as provided in that ordinance.
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.1503.htm
- Text hash
- sha256 ce92bf7aed67865ce5eb9ea6e4cde835b76d1294214930433055b1e46ee2cc5c
- 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.