Tex. Spec. Dist. Local Laws Code § 7803.205 · Subchapter E. BONDS
USE OF BOND PROCEEDS DURING CONSTRUCTION.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board may set aside part of the bond proceeds to:
(1) pay interest on the bonds during the period of construction of improvements or facilities; and
(2) create reserves for the payment of the principal of and interest on the bonds.
(b) For purposes of Subsection (a), the period of construction may not exceed two years.
Notes and commentary — not statutory text
History
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.02, eff. April 1, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.7803.htm
- Text hash
- sha256 a1ff56f3960722572c2277c617f2030b8f12ed93cd3d2fe1d2454f8399d4950a
- 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.