Tex. Spec. Dist. Local Laws Code § 6913.259 · 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 district bonds for the payment of interest expected to accrue during construction and for one year after construction in a reserve interest and sinking fund. The resolution authorizing the bonds may provide for setting aside and using the proceeds as provided by this subsection.
(b) The district may use proceeds from the sale of the bonds to pay any expense necessarily incurred in accomplishing the purposes of the district.
Notes and commentary — not statutory text
History
Added by Acts 2017, 85th Leg., R.S., Ch. 869 (H.B. 2803), Sec. 1.02, eff. April 1, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.6913.htm
- Text hash
- sha256 042e19fcdcc5b5a0f1254b5e0c0288cf73bceb755c8bd81404f44b91b82a7cb1
- 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.