(a) The district by resolution shall establish a project fund.(b) The district may establish separate accounts in the project fund.(c) The district shall deposit into the project fund all money acquired or received by the district, including:(1) the proceeds from an ad valorem tax imposed by the district; and(2) revenue from the sale of district obligations. Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.03, eff. April 1, 2007.
Texas Legal Code