Sec. 1015.160. SPENDING AND INVESTMENT RESTRICTIONS. (a) Except as otherwise provided by Sections 1015.110, 1015.161, 1015.201, 1015.204, and 1015.205, the district may not incur a debt payable from district revenue other than the revenue on hand or to be on hand in the current and immediately following district fiscal years.
(b) The board may invest operating, depreciation, or building reserves only in funds or securities specified by Chapter 2256, Government Code.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.
Structure Texas Statutes
Special District Local Laws Code
Subtitle A - Hospital Districts
Chapter 1015 - Fairfield Hospital District
Subchapter D. General Financial Provisions
Section 1015.152. Notice; Hearing; Adoption of Budget
Section 1015.154. Restriction on Expenditures
Section 1015.156. Annual Audit
Section 1015.157. Inspection of Annual Audit and District Records
Section 1015.158. Financial Report