Tex. Spec. Dist. Local Laws Code § 1032.160 · Subchapter D. GENERAL FINANCIAL PROVISIONS
SPENDING AND INVESTMENT RESTRICTIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Except as otherwise provided by Section 1032.107(c) and by Subchapter E, the district may not incur an obligation payable from district revenue other than the revenue on hand or to be on hand in the current and following district fiscal years.
(b) The board may invest operating, depreciation, or building reserves only in funds or securities specified by Chapter 2256, Government Code.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.1032.htm
- Text hash
- sha256 ff1dd402c6a1f1290959e532d4e3a2e5b1b40590a609a0f1670657958f0ed6b7
- 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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Special District Local Laws Code
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