Opinion No.

Honorable Ashley Smith Chair Committee on Higher Education Texas House of Representatives P.O. Box 2910 Austin, Texas 78768-2910

Re: Whether an independent school district may use various assets to create an endowment fund (RQ-244)

Dear Representative Smith:

You have requested an opinion from our office about the creation of a permanent endowment fund by a Texas public school district.

You inform us that the Plano Independent School District seeks to establish a permanent endowment fund for the continuing financial support of its education program. You state that the corpus of the fund will be…