(a) Except as otherwise provided by this chapter, the district may not incur an obligation payable from district revenues other than the revenues 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 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2007.
Texas Legal Code