Sec. 2306.207. RESERVE FUND. (a) The department may create a reserve fund with the comptroller out of:
(1) proceeds from the sale of the department's bonds; or
(2) other resources.
(b) The reserve fund is additional security for the division's bonds.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg., ch. 980, Sec. 32, eff. Sept. 1, 1997; Acts 1997, 75th Leg., ch. 1423, Sec. 8.75, eff. Sept. 1, 1997.
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