Tex. Special District Local Laws Code § 1035.255
This is the official text of Tex. Special District Local Laws Code § 1035.255, part of Texas’s Special District Local Laws Code — consolidates the individual laws creating Texas's special-purpose local government districts.
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§ 1035.255. INVESTMENT OF BOND PROCEEDS.
Official statutory text
Until the proceeds from the sale of district bonds are needed to carry out the bond purpose, the proceeds may be:
(1) invested in direct obligations of the United States; or
(2) placed on time deposit.
(1) invested in direct obligations of the United States; or
(2) placed on time deposit.
Status: in_force · Read it on the official government site
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