Tex. Spec. Dist. Local Laws Code § 6902.210 · Subchapter E. GENERAL BOND PROVISIONS
USE OF BOND PROCEEDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The district may set aside and use an amount of proceeds from the sale of bonds issued under this subchapter for:
(1) the payment of interest expected to accrue during construction not to exceed three years;
(2) a reserve interest and sinking fund; and
(3) other funds provided by the resolution authorizing the bonds or in the trust indenture.
(b) The district may use proceeds from the sale of the bonds to pay any expense necessarily incurred in accomplishing the purpose of the district, including any expense of issuing and selling the bonds.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.06, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.6902.htm
- Text hash
- sha256 ffe7525fe365a5a0e417bd77e525111484ff0c0e670e6124063c4737a20d19d3
- 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.