81st Texas Legislature, Senate Bill 2517, Chapter 876 Page: 28 of 36
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St
ezLcS.B. No. 2517
1 certificates of deposit.
2 (d) The district may deposit money with a bank in an amount
3 that exceeds the maximum amount secured by the Federal Deposit
4 Insurance Corporation only if the bank first executes a bond or
5 other security in an amount sufficient to secure from loss the
6 district money that exceeds the amount secured by the Federal
7 Deposit Insurance Corporation.
8 Sec. 1072.161. RESTRICTION ON INVESTMENT. The board may
9 invest operating, depreciation, or building reserves only in funds
10 or securities specified by Chapter 2256, Government Code.
11 [Sections 1072.162-1072.200 reserved for expansion]
12 SUBCHAPTER E. BONDS
13 Sec. 1072.201. GENERAL OBLIGATION BONDS. If authorized by
14 an election, the board may issue and sell general obligation bonds
15 in the name and on the faith and credit of the district to:
16 (1) purchase, construct, acquire, repair, or renovate
17 buildings or improvements;
18 (2) equip buildings or improvements for hospital
19 purposes; or
20 (3) acquire and operate a mobile emergency medical
21 service.
22 Sec. 1072.202. TAX TO PAY GENERAL OBLIGATION BONDS.
23 (a) At the time general obligation bonds are issued by the
24 district under Section 1072.201, the board shall impose an ad
25 valorem tax in an amount sufficient to create an interest and
26 sinking fund to pay the principal of and interest on the bonds as
27 the bonds mature.28
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Texas. Legislature. Senate. 81st Texas Legislature, Senate Bill 2517, Chapter 876, legislative document, June 19, 2009; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth149597/m1/28/: accessed April 24, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.