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Texas Special District Local Laws Code

§ 1035.255 — INVESTMENT OF BOND PROCEEDS

SD § 1035.255Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1035. DEWITT MEDICAL DISTRICT · Art. F. BONDS

Statute text

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Until the proceeds from the sale of district bonds are needed to carry out the bond purpose, the proceeds may be:
(1)invested in direct obligations of the United States; or
(2)placed on time deposit.

Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.

Source: Texas Special District Local Laws Code § 1035.255 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.