73R6653 CLG-D
By Holzheauser H.B. No. 2133
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the investment of funds of the Lavaca Hospital
1-3 District.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 12(a), Chapter 16, Acts of the 64th
1-6 Legislature, Regular Session, 1975, is amended to read as follows:
1-7 (a) The board of directors of the district shall name one or
1-8 more banks within its boundaries to serve as depository for the
1-9 funds of the district. All funds of the district, except those
1-10 invested as provided in Section 5 and those transmitted to a bank
1-11 or banks of payment for bonds or obligations issued or assumed by
1-12 the district, shall be deposited as received with the depository
1-13 bank and shall remain on deposit, provided that nothing herein
1-14 shall limit the power of the board to place a portion of the <such>
1-15 funds on time deposit, <or> purchase certificates of deposit, or
1-16 invest a portion of the funds in a local government investment pool
1-17 established in the Texas Treasury Safekeeping Trust Company.
1-18 SECTION 2. The importance of this legislation and the
1-19 crowded condition of the calendars in both houses create an
1-20 emergency and an imperative public necessity that the
1-21 constitutional rule requiring bills to be read on three several
1-22 days in each house be suspended, and this rule is hereby suspended,
1-23 and that this Act take effect and be in force from and after its
1-24 passage, and it is so enacted.