Tex. Spec. Dist. Local Laws Code § 1001.358 · Subchapter H. BONDS
USE OF REVENUE BOND PROCEEDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If permitted in the bond ordinance, any required part of the proceeds from the sale of the revenue bonds may be used to:
(1) pay interest on the bonds during the construction of a hospital facility to be provided through the issuance of the bonds;
(2) pay operation and maintenance expenses of the facility to the extent and for the time specified in the bond ordinance; and
(3) create reserves for the payment of the principal of and interest on the bonds.
(b) The proceeds of the bonds may be invested until needed to the extent and in the manner provided by the bond ordinance.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.1001.htm
- Text hash
- sha256 778d86d5a805f6b2cea9141bc696ecf771c65f317b2046c28842cfbbe46fd25c
- 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.