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.
Added by Acts 2019, 86th Leg., R.S., Ch. 1133 (H.B. 2706), Sec. 4, eff. September 1, 2019.
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