An issuer authorized to invest proceeds from the sale of a public security, including by placing the proceeds on time deposit, may use money earned from the investment for the purpose for which the public security was issued.
Tex. Gov't Code § 1201.043
USE OF INVESTMENT INCOME
Known as the Public Security Procedures Act
The act spans §§ 1201.001 to 1201.067 (26 sections).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.