Tex. Spec. Dist. Local Laws Code § 6904.260 · Subchapter F. BONDS
USE OF BOND PROCEEDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The district may set aside 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 debt service reserve fund; and
(3) other funds as may be provided in 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.6904.htm
- Text hash
- sha256 6828ec9e03fcd2517b64d69e161f8e50035237c3d681611c969cc2e9c832faeb
- 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.