Tex. Health & Safety Code § 287.129 · Subchapter F. DISTRICT FINANCES
SPENDING AND INVESTMENT LIMITATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 1293, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.102, eff. Sept. 1, 2001.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/HS/htm/HS.287.htm
- Text hash
- sha256 382b80aefc5192d041cd9dbe15fa8af3965d788b7f3c14bbc9db29c581b51541
- 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
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