Texas Health and Safety Code 262.039 – Investment of Authority Funds
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(a) This section applies only to an authority that:
(1) is located in:
(A) a county of 2.4 million or more; or
(B) a municipality of less than 15,000;
(2) has assets that exceed the amount of any outstanding bonds issued under Subchapter D; and
(3) does not operate a hospital.
(b) Notwithstanding any other law, an authority may invest authority funds:
(1) as provided by Chapter 2256, Government Code; and
(2) in any investment a trustee is authorized to make under Subtitle B, Title 9, Property Code.
Terms Used In Texas Health and Safety Code 262.039
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Property: means real and personal property. See Texas Government Code 311.005
- Trustee: A person or institution holding and administering property in trust.