Texas Agriculture Code 60.101 – Miscellaneous Financial Powers and Duties
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(a) The district may:
(1) impose a charge for using land, a facility, or a service the district provides;
(2) issue bonds as provided by this subchapter;
(3) borrow money for any corporate purpose or combination of purposes;
(4) loan money;
(5) invest money under its control in an investment permitted by Chapter 2256, Government Code;
(6) select a depositor;
(7) establish a system of accounts for the district; and
(8) set the fiscal year for the district.
(b) The board by rule shall establish the procedure and number of directors’ signatures required to disburse or transfer district money.
Terms Used In Texas Agriculture Code 60.101
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Rule: includes regulation. See Texas Government Code 311.005