Section 265.051 - Investment of Funds(a) The law relating to security for and investment of municipal or county funds applies to hospital board funds. A bond resolution or trust indenture executed for hospital board bonds may further restrict the security for and investment of hospital board funds.(b) The hospital board may invest, until needed, all or part of its bond proceeds in direct obligations of the United States to the extent authorized in the bond resolution or trust indenture.Tex. Health and Safety Code § 265.051
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. 9/1/1989.