Tex. Special District Local Laws Code § 1016.160: SPENDING AND INVESTMENT RESTRICTIONS.

(a) Except as otherwise provided by Section 1016.107(c) of this code, Section 315.002, Health and Safety Code, this subchapter, and Subchapter E of this chapter, the district may not incur a debt 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.

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

Amended by:

Acts 2025, 89th Leg., R.S., Ch. 291 (S.B. 1214), Sec. 7, eff. September 1, 2025.