Sec. 325.068. INVESTMENTS. (a) Funds of the district may be invested and reinvested by the board or its authorized representative in direct or indirect obligations of the United States, the state, or any county, municipality, school district, or other political subdivision of the state.
(b) Funds of the district may be placed in certificates of deposit of state or national banks or state or federal savings and loan associations within the state provided that they are secured in the manner provided for the security of the funds of counties of the state.
(c) The board, by resolution, may provide that an authorized representative of the district may invest and reinvest the funds of the district and provide for money to be withdrawn from the appropriate accounts of the district for investments on terms the board considers advisable.
Added by Acts 1989, 71st Leg., ch. 437, Sec. 1, eff. Aug. 28, 1989.
Structure Texas Statutes
Title 10 - Parks and Other Recreational and Cultural Resources
Subtitle B - County Parks and Other Recreational and Cultural Resources
Chapter 325 - Sports Facility District Established by County
Subchapter D. District Finances
Section 325.063. Annual Budget
Section 325.064. Amending Budget
Section 325.065. Limitation on Expenditures
Section 325.066. Sworn Statement