Sec. 1114.157. SPENDING AND INVESTMENT RESTRICTIONS. (a) Except as otherwise provided by Section 1114.106(b) 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 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.01, eff. April 1, 2015.
Structure Texas Statutes
Special District Local Laws Code
Subtitle A - Hospital Districts
Chapter 1114 - Willacy County Hospital District
Subchapter D. General Financial Provisions
Section 1114.152. Notice; Hearing; Action on Budget
Section 1114.154. Annual Audit
Section 1114.155. Inspection of Annual Audit and District Records