Until the proceeds from the sale of district bonds are needed to carry out the bond purpose, the proceeds may be:

1. (1) invested in direct obligations of the United States; or
2. (2) placed on time deposit.

Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.