Tex. Gov't Code § 1477.062 · Subchapter B. BONDS FOR WATER SUPPLY FOR COUNTY PURPOSES
USE OF BOND PROCEEDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The proceeds of bonds issued under this subchapter may only be used to pay the cost of the project for which the bonds were issued.
(b) The county shall disburse the proceeds of the bonds in accordance with any restrictions provided in the order authorizing the bonds.
(c) The bondholders have a lien on the proceeds until the proceeds are applied.
(d) The bond proceeds, pending their use for the construction of the project, may be invested in direct obligations of the United States having maturities not more than 91 days from the date of investment.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1477.htm
- Text hash
- sha256 d19707641ee0ad7e3683e073d7e376d1f678cd5b06ca04a617e1eb63564594cf
- 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.