Tex. Health & Safety Code § 363.139 · Subchapter G. BONDS
INVESTMENT AND USE OF PROCEEDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Money may be set aside out of bond proceeds to provide for:
(1) interest to accrue on the bonds;
(2) administrative expenses up to the estimated date on which the solid waste management system will produce revenue; and
(3) reserve funds created by the resolution that authorized the bonds.
(b) Proceeds from the sale of bonds may be invested, pending their use, in the securities or time deposits specified by the resolution authorizing the issuance of the bonds or the trust indenture securing the bonds.
(c) The earnings on the investments may be applied as provided by the resolution or trust indenture.
Notes and commentary — not statutory text
History
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/HS/htm/HS.363.htm
- Text hash
- sha256 9d7746b0002739f07bce32902bb08e32034a4e4ea354bbfe58230226ae456183
- 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.