Tex. Spec. Dist. Local Laws Code § 8101.260 · Subchapter F. BONDS
USE OF BOND PROCEEDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The authority may set aside and use proceeds from bond sales for:
(1) the payment of interest expected to accrue during construction and the first year after construction; and
(2) a reserve interest and sinking fund.
(b) The authority may provide in the resolution authorizing the bonds or in the trust indenture for setting aside and using the proceeds as described by Subsection (a).
(c) The authority may use proceeds from the sale of bonds to pay an expense incurred in accomplishing the purposes of the authority.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8101.htm
- Text hash
- sha256 e951c6051a7fb83601f76281d9c9c01c08f00c9b25908c401de676f708378432
- 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.