Section 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.Tex. Gov't. Code § 2256.0208
Added by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 1133,Sec. 4, eff. 9/1/2019.