Sec. 1089.160. SPENDING AND INVESTMENT RESTRICTIONS. (a) Except as provided by Sections 1089.111, 1089.201, 1089.204, and 1089.205, 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 the 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 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.
Structure Texas Statutes
Special District Local Laws Code
Subtitle A - Hospital Districts
Chapter 1089 - Reeves County Hospital District
Subchapter D. General Financial Provisions
Section 1089.152. Notice; Hearing; Adoption of Budget
Section 1089.154. Restriction on Expenditures
Section 1089.156. Annual Audit
Section 1089.157. Inspection of Annual Audit and District Records