Tex. Educ. Code § 45.1105 · Subchapter E. MISCELLANEOUS PROVISIONS
USE OF UNSPENT GENERAL OBLIGATION BOND PROCEEDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A school district may use the unspent proceeds of issued general obligation bonds only:
(1) for the specific purposes for which the bonds were authorized;
(2) to retire the bonds; or
(3) for a purpose other than the specific purposes for which the bonds were authorized if:
(A) the specific purposes are accomplished or abandoned; and
(B) the board of trustees at a public meeting held only for the purpose of considering the use of the unspent bond proceeds approves in separate votes the use of the proceeds for:
(i) a purpose other than to retire the bonds; and
(ii) the purpose specified at the time the vote is taken.
(b) In addition to other requirements of law, notice of a public meeting held under this section must include a statement that the board of trustees will consider the use of unspent bond proceeds for a purpose other than the specific purposes for which the bonds were authorized.
(c) A public meeting held under this section must provide the public an opportunity to address the board of trustees on the question of using the unspent bond proceeds for a purpose other than the specific purposes for which the bonds were authorized.
Notes and commentary — not statutory text
History
Added by Acts 2019, 86th Leg., R.S., Ch. 726 (H.B. 440), Sec. 1, eff. September 1, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.45.htm
- Text hash
- sha256 0c65ab675bea8b41bb441263fd2375d216341ca72c352f0cea8e220df072f25f
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.