Section 1038.160 - Spending and Investment Restrictions(a) Except as otherwise provided by this chapter, 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 shall invest operating, depreciation, or building reserves in accordance with Chapter 2256, Government Code.Tex. Spec. Dist. Loc. Laws § 1038.160
Added by Acts 2007, 80th Leg., R.S., Ch. 920, Sec. 1.02, eff. 4/1/2009.