Tex. Spec. Dist. Local Laws Code § 1037.159 · 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 1037.107(c) and by Subchapter E, the board 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.1037.htm
- Text hash
- sha256 247c8e7a3ce7c5fe42dc59f55a9d7684449d4d299eceec59dd32ad1e95834e14
- 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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