Tex. Spec. Dist. Local Laws Code § 7807.205 · Subchapter E. BONDS
USE OF BOND PROCEEDS.
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 and administrative and operational expenses expected to accrue during the period of construction of the 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 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.02, eff. April 1, 2013.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.7807.htm
- Text hash
- sha256 f33521a4730d7f4c7092fe370236475b3ae4e6d3fd5e0c04ef72c07045094f76
- 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.