Tex. Loc. Gov't Code § 324.101 · Subchapter E. BONDS, TAXES, AND OTHER FINANCIAL MATTERS
REPLACEMENT FUND.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board may establish a replacement fund. It may deposit in the fund any amounts from its revenue that it considers appropriate.
(b) The replacement fund may be used to rebuild on the original site or elsewhere, restore, repair, or improve property of the district that is destroyed or injured or that is necessary to expand, improve, demolish, repair, or replace because of its unfitness.
(c) The board may invest the replacement fund in bonds of the United States, this state, or a county, municipal corporation, or school district of this state.
Notes and commentary — not statutory text
History
Added by Acts 1989, 71st Leg., ch. 1, Sec. 71(a), eff. Aug. 28, 1989.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.324.htm
- Text hash
- sha256 f7d655c0e7657fae5b9054880eaab54a89e22de3c645f8d5c6f5dd83af8c7497
- 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.