Sec. 1048.160. SPENDING AND INVESTMENT RESTRICTIONS. (a) Except as otherwise provided by Section 1048.107(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 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 1048 - Karnes County Hospital District
Subchapter D. General Financial Provisions
Section 1048.152. Notice; Hearing; Adoption of Budget
Section 1048.154. Restriction on Expenditures
Section 1048.156. Annual Audit
Section 1048.157. Inspection of Audit and District Records
Section 1048.158. Financial Report
Section 1048.160. Spending and Investment Restrictions
Section 1048.161. General Authority to Borrow Money; Security