SENATE BILL 1089 |
SENATE AUTHOR: Duncan |
EFFECTIVE: 06-19-99 |
HOUSE SPONSOR: Hill |
Senate Bill 1089 amends the Education Code to allow school districts and junior college or community college districts to contract for the purchase of certain authorized investments with proceeds from district debt service taxes. The act requires a district to solicit and receive at least three separate bids and to accept the qualifying bid that provides for the highest yield investments over the term of the contract, which may not exceed seven years.