Tex. Loc. Gov't Code § 104.002 · Chapter 104. MUNICIPAL INVESTMENT OF TRUST FUNDS AND SPECIAL DEPOSITS
AUTHORITY TO MAKE INVESTMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The municipality may invest trust funds and special deposits in the custody of the municipality.
(b) The municipal official responsible for managing and conducting the municipality's fiscal affairs shall make the investments. The investments are subject to the supervision and control of the governing body, as established by ordinance.
(c) The municipality may invest the funds in amounts that are not required for immediate disbursement according to official estimates by purchasing obligations of the United States government or by placing the funds in time deposit accounts with one or more depository banks of the municipality.
Notes and commentary — not statutory text
History
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.104.htm
- Text hash
- sha256 6a4c8f75ea5163f76776c3fe4e46f682b42f036c40a9814abef6f99b844bab5e
- 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.