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Texas Special District Local Laws Code

§ 1025.160 — SPENDING AND INVESTMENT RESTRICTIONS

SD § 1025.160Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1025. ELECTRA HOSPITAL DISTRICT · Art. D. GENERAL FINANCIAL PROVISIONS

Statute text

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(a)Except as otherwise provided by Section 1025.107(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.

Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

Source: Texas Special District Local Laws Code § 1025.160 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.