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Tex. Local Government Code § 140.002

INVESTMENTS BY POLITICAL SUBDIVISION IN DEFENSE BONDS AND OTHER FEDERAL OBLIGATIONS

Texas · Texas Local Government Code · Status: effective

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Tex. Local Government Code § 140.002, INVESTMENTS BY POLITICAL SUBDIVISION IN DEFENSE BONDS AND OTHER FEDERAL OBLIGATIONS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/689541
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A political subdivision that has a balance remaining in any of its accounts at the end of a fiscal year may invest the balance in defense bonds or other obligations of the United States. If those funds are needed, the political subdivision shall sell or redeem the federal obligations in which the funds are invested and shall deposit the proceeds of the obligations in the account from which they were originally drawn.