Section 1001.110 - Gifts and Endowments(a) The board may accept for the district a gift or endowment to be held in trust or otherwise and administered by the board for any purpose and under any direction, limitation, or provision prescribed in writing by the donor that is not inconsistent with the proper management and objectives of the district.(b) The board may establish a foundation or nonprofit corporation for the purposes of this section.Tex. Spec. Dist. Loc. Laws § 1001.110
Added by Acts 2005, 79th Leg., Ch. 729, Sec. 1.01, eff. 4/1/2007.