Sec. 1039.159. SPENDING AND INVESTMENT RESTRICTIONS. (a) Except as otherwise provided by Section 1039.107(c) and by Subchapter E, 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 may invest operating, depreciation, or building reserves only in funds or securities specified by Subchapter A, 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 1039 - Hemphill County Hospital District
Subchapter D. General Financial Provisions
Section 1039.152. Notice; Hearing; Adoption of Budget
Section 1039.154. Restriction on Expenditures
Section 1039.156. Annual Audit
Section 1039.157. Inspection of Annual Audit and District Records