Tex. Spec. Dist. Local Laws Code § 8288.209 · Subchapter E. 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:
(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 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.04, eff. April 1, 2011.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8288.htm
- Text hash
- sha256 dbea7c6a187c8bc5acebb3c5a0bcf5dba68f98834c07cb887559f4a11d8e70a0
- 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.