Sec. 286.129.  SPENDING AND INVESTMENT LIMITATIONS.  (a)  Except as provided by Sections 286.078(a), 286.141, 286.144, and 286.145, and Chapter 315, the district may not incur a debt payable from revenues of the district other than the revenues on hand or to be on hand in the current and immediately following fiscal year of the district.
(b)  The board may invest operating, depreciation, or building reserves only in investments authorized under Chapter 2256, Government Code.
Added by Acts 1991, 72nd Leg., ch. 14, Sec. 121, eff. Sept. 1, 1991.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.101, eff. Sept. 1, 2001.
Amended by: 
Acts 2023, 88th Leg., R.S., Ch. 848 (H.B. 3191), Sec. 14, eff. September 1, 2023.