{"data":{"id":"us-tx/tex.-government-code-1503.009","jurisdiction":"us-tx","citation":"Tex. Government Code § 1503.009","heading":"INVESTMENT OF BOND PROCEEDS AND FUNDS.","body":"(a) The bond proceeds, until they are needed for the purpose for which the bonds were issued, may be invested in direct obligations of the United States, placed on time deposit, or both.\n(b) Money in an interest and sinking fund, reserve fund, or any other fund established or provided for in the ordinance authorizing the bonds may be invested in the manner and in the securities as provided in that ordinance.\nAdded by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.","path":["GOVERNMENT CODE","TITLE 9. PUBLIC SECURITIES","SUBTITLE J. SPECIFIC AUTHORITY FOR MUNICIPALITIES TO ISSUE SECURITIES","CHAPTER 1503. OBLIGATIONS FOR MUNICIPAL AIRPORTS","SUBCHAPTER A. REVENUE BONDS FOR AIRPORTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1503.htm#1503.009","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"6f912b55f4b64a0134501b1bef429e941356f046b379d70ff2d2efb0a76d2850","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-1503.008","next":"us-tx/tex.-government-code-1503.010"},"notice":"GroundRules: Original legal text. Not legal advice."}