Tex. Gov't Code § 489.257 · Subchapter E. TEXAS SMALL AND RURAL COMMUNITY SUCCESS FUND
USE OF BOND PROCEEDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
The proceeds from the sale of bonds issued under this subchapter may be applied only for a purpose for which the bonds were issued, except that:
(1) any secured interest received in the sale shall be applied to the payment of the principal of or interest on the bonds sold and, if a portion of the proceeds is not needed for a purpose for which the bonds were issued, that portion shall be applied to the payment of the principal of or interest on the bonds; and
(2) any premium received in the sale of the bonds shall be applied in accordance with Section 1201.042(d).
Notes and commentary — not statutory text
History
Added by Acts 2021, 87th Leg., R.S., Ch. 947 (S.B. 1465), Sec. 1, eff. June 18, 2021.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.489.htm
- Text hash
- sha256 4d4da6da3e83190b02ec46fe484012dc7aaea402ee86cd5fd81b168f8c4f7872
- 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
This section cites
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