Tex. Local Government Code § 104.002
This is the official text of Tex. Local Government Code § 104.002, part of Texas’s Local Government Code — governs the powers and operations of Texas cities and counties.
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§ 104.002. AUTHORITY TO MAKE INVESTMENTS.
Official statutory text
(a) The municipality may invest trust funds and special deposits in the custody of the municipality.
(b) The municipal official responsible for managing and conducting the municipality's fiscal affairs shall make the investments. The investments are subject to the supervision and control of the governing body, as established by ordinance.
(c) The municipality may invest the funds in amounts that are not required for immediate disbursement according to official estimates by purchasing obligations of the United States government or by placing the funds in time deposit accounts with one or more depository banks of the municipality.
(b) The municipal official responsible for managing and conducting the municipality's fiscal affairs shall make the investments. The investments are subject to the supervision and control of the governing body, as established by ordinance.
(c) The municipality may invest the funds in amounts that are not required for immediate disbursement according to official estimates by purchasing obligations of the United States government or by placing the funds in time deposit accounts with one or more depository banks of the municipality.
Status: in_force · Read it on the official government site
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