Texas § ED.53.42 - INVESTMENT OF FUNDS
Full text of Texas The Texas Constitution § ED.53.42 — INVESTMENT OF FUNDS, with citation guidance and answers to common questions.
§ ED.53.42. INVESTMENT OF FUNDS
INVESTMENT OF FUNDS; SECURITY. To the extent it is applicable, the law as to the security for and the investment of funds, applicable to cities, controls the investment of funds belonging to authority. The bond resolution or the indenture or both may further restrict the making of investments. The authority may invest the proceeds of its bonds, until the money is needed, in the direct obligations of or obligations unconditionally guaranteed by the United States, to the extent authorized in the bond resolution or indenture or in both. Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971. Reenacted and amended by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701 ), Sec. 1, eff. September 1, 2005.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § ED.53.42
What does The Texas Constitution § ED.53.42 cover?
Section ED.53.42 ("INVESTMENT OF FUNDS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § ED.53.42?
A common citation format is "The Texas Constitution § ED.53.42" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § ED.53.42 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.