Texas Local Government Code 107.004 – Proceeds of Obligations Issued
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Terms Used In Texas Local Government Code 107.004
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005
The municipality shall deposit the net proceeds of obligations issued under Section 107.003 to the credit of the public pension fund. The amount deposited under this section becomes part of the public pension fund’s assets.