Water Code §51.437

In force on Jul 08, 2022 · this text took effect Aug 30, 1971 · same as today's text

INVESTMENT OF SINKING FUND

(a) The board may invest any portion of the sinking fund of the district in bonds of the United States, the state, any county or city in the state, any irrigation or water improvement district, school district, or other tax bonds issued under the laws of the state. (b) The funds may be invested if the bonds to be paid with them do not mature within three years from the time the investment is made and if it is necessary to preserve the best interest of the district.

History: Acts 1971, 62nd Leg., p. 343, ch. 58, Sec. 1, eff. Aug. 30, 1971.

Source: the Legislature's file server, seen Sep 22, 2018 to Nov 08, 2026.

Every version on file

Effective Aug 30, 1971 · seen Sep 2018–Nov 2026

Attorney General opinions that cite it

KP-0459 (Jul 08, 2022): Authority of a water control and improvement district to use surplus funds from its interest and sinking fund

A research copy. The official text is the Legislature's (statutes), the Secretary of State's (Texas Administrative Code) or eCFR's (federal rules). Not legal advice.