Texas § 2256.0208 LOCAL GOVERNMENT INVESTMENT OF BOND PROCEEDS AND PLEDGED REVENUE.

Texas Statutes

§ 2256.0208 — LOCAL GOVERNMENT INVESTMENT OF BOND PROCEEDS AND PLEDGED REVENUE.

Texas § 2256.0208

Code GVGovernment Code

This text of Texas § 2256.0208 (LOCAL GOVERNMENT INVESTMENT OF BOND PROCEEDS AND PLEDGED REVENUE.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 2256.0208 (2026).

Text

Sec. 2256.0208. LOCAL GOVERNMENT INVESTMENT OF BOND PROCEEDS AND PLEDGED REVENUE.

(a)In this section, "pledged revenue" means money pledged to the payment of or as security for:

(1)bonds or other indebtedness issued by a local government;

(2)obligations under a lease, installment sale, or other agreement of a local government; or

(3)certificates of participation in a debt or obligation described by Subdivision (1) or (2).

(b)The investment officer of a local government may invest bond proceeds or pledged revenue only to the extent permitted by this chapter, in accordance with:

(1)statutory provisions governing the debt issuance or the agreement, as applicable; and

(2)the local government's investment policy regarding the debt issuance or the agreement, as applicable.

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Sec. 2256.0208. LOCAL GOVERNMENT INVESTMENT OF BOND PROCEEDS AND PLEDGED REVENUE. (a) In this section, "pledged revenue" means money pledged to the payment of or as security for:
(1) bonds or other indebtedness issued by a local government;
(2) obligations under a lease, installment sale, or other agreement of a local government; or
(3) certificates of participation in a debt or obligation described by Subdivision (1) or (2).
(b) The investment officer of a local government may invest bond proceeds or pledged revenue only to the extent permitted by this chapter, in accordance with:
(1) statutory provisions governing the debt issuance or the agreement, as applicable; and
(2) the local government's investment policy regarding the debt issuance or the agreement, as applicable.