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Texas Special District Local Laws Code

§ 1057.206 — INVESTMENT OF GENERAL OBLIGATION BOND PROCEEDS

SD § 1057.206Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1057. MATAGORDA COUNTY HOSPITAL DISTRICT OF MATAGORDA COUNTY, TEXAS · Art. E. BONDS

Statute text

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Until the proceeds from the sale of general obligation 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 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

Source: Texas Special District Local Laws Code § 1057.206 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.