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Texas Local Government Code

§ 107.004 — PROCEEDS OF OBLIGATIONS ISSUED

LG § 107.004Title 4. FINANCES · Part A. MUNICIPAL FINANCES · Ch. 107. OBLIGATIONS FOR CERTAIN LIABILITIES TO PUBLIC PENSION FUNDS OF A MUNICIPALITY

Statute text

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The municipality shall deposit the net proceeds of obligations issued under Section 107.003 to the credit of the public pension fund. The amount deposited under this section becomes part of the public pension fund's assets.

Legislative history

Added by Acts 2003, 78th Leg., ch. 1271, Sec. 1, eff. Sept. 1, 2003.

Source: Texas Local Government Code § 107.004 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.