Texas Special District Local Laws Code 1110.160 – Spending and Investment Restrictions
Current as of: 2024 | Check for updates
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(a) Except as otherwise provided by Section 1110.108(b) and Sections 1110.201-1110.207, 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 fund reserves only in funds or securities specified by Chapter 2256, Government Code.
Terms Used In Texas Special District Local Laws Code 1110.160
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.