(a) District money may be invested by the board or its authorized representative in direct or indirect obligations of the United States, the state, or any political subdivision of the state.(b) District money may be placed in certificates of deposit of state or national banks or savings and loan associations in this state, if that money is secured in the manner provided for the security of county funds. Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.03, eff. April 1, 2013.
Texas Legal Code