Tex. Educ. Code § 55.15 · Subchapter B. REVENUE BONDS AND FACILITIES
DISPOSITION OF BOND PROCEEDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
Proceeds from the sale of the bonds may be used for paying interest on the bonds during the period of the acquisition or construction of any facilities to be provided through the issuance of the bonds, and for providing a reserve for the payment of the principal of and interest on the bonds, and such proceeds may be placed on time deposit or invested, until needed, to the extent, and in the manner provided, in the bond resolution.
Notes and commentary — not statutory text
History
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.55.htm
- Text hash
- sha256 a65ed7a6ae8fcb65a09a57b275a0f2184e20d65c83ca9384d1910e2f750cf0b6
- 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.