Texas § TN.201.976 - INVESTMENT AND USES OF MONEY IN FUND
Full text of Texas The Texas Constitution § TN.201.976 — INVESTMENT AND USES OF MONEY IN FUND, with citation guidance and answers to common questions.
§ TN.201.976. INVESTMENT AND USES OF MONEY IN FUND
INVESTMENT AND USES OF MONEY IN FUND. (a) Money in the fund may be invested in the investments permitted by law for the investment of money on deposit in the state highway fund. (b) As a part of its covenants and commitments made in connection with the issuance of obligations and the execution of credit agreements, the commission may limit the types of investments eligible for investment of money in the fund but may not expand the types of investments to include any investments that are not authorized by Subsection (a). (c) Income received from the investment of money in the fund shall be deposited in the fund, subject to requirements that may be imposed by the proceedings authorizing obligations to protect the tax-exempt status of interest payable on the obligations under the Internal Revenue Code of 1986. (d) To the extent money is on deposit in the fund in amounts that are in excess of the money required by the proceedings authorizing the obligations and credit agreements to be retained on deposit, the commission may use the money for any purpose for which obligations may be issued under this subchapter. Added by Acts 2005, 79th Leg., Ch. 1070 (H.B. 1546 ), Sec. 1, eff. November 8, 2005.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § TN.201.976
What does The Texas Constitution § TN.201.976 cover?
Section TN.201.976 ("INVESTMENT AND USES OF MONEY IN FUND") 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 § TN.201.976?
A common citation format is "The Texas Constitution § TN.201.976" (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 § TN.201.976 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.