Investment of Authority Funds

Sec. 262.039. INVESTMENT OF AUTHORITY FUNDS. (a) This section applies only to an authority that: (1) is located in: (A) a county with a population of 2.4 million or more; or (B) a municipality with a population of less than 30,000; (2) has assets that exceed the amount of any outstanding bonds issued under Subchapter D; and (3) does not operate a hospital. (b) Notwithstanding any other law, an authority may invest authority funds: (1) as provided by Chapter 2256, Government Code; and (2) in any investment a trustee is authorized to make under Subtitle B, Title 9, Property Code. Added by Acts 2013, 83rd Leg., R.S., Ch. 154 (S.B. 233), Sec. 1, eff. September 1, 2013. Amended by: Acts 2015, 84th Leg., R.S., Ch. 581 (H.B. 3333), Sec. 1, eff. September 1, 2015. Acts 2025, 89th Leg., R.S., Ch. 349 (H.B. 3788), Sec. 4, eff. September 1, 2025. SUBCHAPTER D. BONDS