(a) This section applies only to an authority that:
(1) is located in:
(A) a county with a population of 2.4 million or more; or
(B) a municipality with a population of less than 30,000;
(2) has assets that exceed the amount of any outstanding bonds issued under Subchapter D; and
(3) does not operate a hospital.
(b) Notwithstanding any other law, an authority may invest authority funds:
(1) as provided by Chapter 2256, Government Code; and
(2) in any investment a trustee is authorized to make under Subtitle B, Title 9, Property Code.