Sec. 9701.153.  INVESTMENT AND EXPENDITURE OF PRINCIPAL.  (a)  The Red Bluff District shall invest the principal amount in accordance with Chapter 2256, Government Code.
(b)  The Red Bluff District shall comply with Chapter 2257, Government Code, to the extent applicable.
(c)  The Red Bluff District may not spend any portion of the principal amount unless the expenditure is approved by an affirmative vote of:
(1)  the board of directors of the Red Bluff District; and
(2)  the boards of directors of at least five member districts.
Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.04, eff. April 1, 2013.