Sec. 1023.160. SPENDING AND INVESTMENT RESTRICTIONS. (a) Except as provided by Sections 1023.110, 1023.161, 1023.162, 1023.201, 1023.204, and 1023.205, the district may not incur a debt payable from district revenue other than 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 1023 - Eastland Memorial Hospital District
Subchapter D. General Financial Provisions
Section 1023.152. Notice; Hearing; Adoption of Budget
Section 1023.154. Restriction on Expenditures
Section 1023.156. Annual Audit
Section 1023.157. Inspection of Annual Audit and District Records
Section 1023.158. Financial Report
Section 1023.160. Spending and Investment Restrictions
Section 1023.161. General Authority to Borrow Money; Security
Section 1023.162. Authority to Borrow Money in Emergency; Security