1401.063 – INVESTMENT OF PROCEEDS. (a) With the board's
Texas Government Code § 1401.063
Summary
This law allows the comptroller to invest unspent revenue bond proceeds with the board's approval. It ensures that any investment income generated is allocated appropriately, benefiting the relevant agency while complying with federal requirements.
Comptroller can invest unspent revenue bond proceeds.
Investment income is credited to the appropriate agency.
Income must comply with federal rebate and debt service rules.
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In simple terms: Learn about Texas's INVESTMENT OF PROCEEDS. (a) With the board's law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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