Tex. Spec. Dist. Local Laws Code § 8508.0207 · Subchapter E. GENERAL FINANCIAL PROVISIONS
INVESTMENT OF AUTHORITY MONEY; APPLICATION OF INCOME FROM INVESTMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Money in the treasury that is not required for the current payment of obligations of the authority or for sinking funds and that the board considers available for investment may be invested or reinvested by the authority in:
(1) direct obligations of the United States;
(2) obligations the principal and interest of which are guaranteed by the United States;
(3) direct obligations of or participation certificates guaranteed by:
(A) a farm credit bank;
(B) the Federal National Mortgage Association;
(C) a federal home loan bank; or
(D) a bank for cooperatives;
(4) certificates of deposit of a bank or trust company the deposits of which are fully secured by a pledge of securities of any of the institutions specified by this subsection;
(5) other securities eligible for investment under other laws; or
(6) a combination of the investments listed in this subsection.
(b) The board shall determine the type and maturity of investments made under this section.
(c) A resolution relating to the issuance of bonds or other obligations must include appropriate provisions relating to the investment of money in funds established in connection with the authorization of those bonds or other obligations.
(d) The board shall direct the application of income from investments made under this section.
Notes and commentary — not statutory text
History
Added by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.03, eff. April 1, 2021.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8508.htm
- Text hash
- sha256 f25dedea0c91f9d7678a049c7b893e6b0e3fe1f76e2bcc8b95c2dece4fb42427
- 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.