Sec. 3831.156. PROJECT FUND. (a) The district by resolution shall establish a project fund.

(b) The district may establish separate accounts in the project fund.

(c) The district shall deposit into the project fund all money acquired or received by the district, including:

(1) the proceeds from an ad valorem tax imposed by the district; and

(2) revenue from the sale of district obligations.

Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.03, eff. April 1, 2007.