Sec. 5009.101. ESTABLISHMENT OF FUND; DEPOSITS. (a) The district may establish a promotion and development fund.
(b) The district, from time to time, may deposit in the fund a portion of the district's accumulated money, plus an amount each year not to exceed 10 percent of the district's total maintenance and operation taxes, including delinquent taxes, received during a fiscal year.
(c) The commission shall determine the amount to be deposited in the fund.
(d) The money in the fund shall be kept separate from other money and accounts of the district.
Added by Acts 2017, 85th Leg., R.S., Ch. 869 (H.B. 2803), Sec. 1.01, eff. April 1, 2019.
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