Sec. 1111.206. INVESTMENT OF GENERAL OBLIGATION BOND PROCEEDS. Until general obligation bond proceeds are needed to carry out the bond purpose, the proceeds may be:
(1) invested in direct obligations of the United States; or
(2) placed on time deposit.
Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.01, eff. April 1, 2013.
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