Tex. Loc. Gov't Code § 293.056 · Subchapter C. FUNDING

INITIAL INTEREST.

Verbatim from the official edition

Text — Current through the 89th 2nd Called Legislative Session, 2025

The board may set aside the following money from the proceeds from the sale of bonds:

(1) money necessary to pay interest on the bonds for not more than two years; and

(2) money that the board estimates to be necessary to pay the authority's operating expenses for its first year of operation.

Notes and commentary — not statutory text

History

Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.

Source of truth

Edition: Current through the 89th 2nd Called Legislative Session, 2025
Official file: https://statutes.capitol.texas.gov/Docs/LG/htm/LG.293.htm
Text hash: sha256 7278ad7c5a823ae183038e725e76e498fe68d7b3ade5f916879b6db93a85dd58
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.