Tex. Spec. Dist. Local Laws Code § 9011.259 · 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 bonds issued under this subchapter for the payment of:
(1) interest to accrue during two years after the purchase of a system or expected to accrue during construction and two years after construction; and
(2) a reserve interest and sinking fund.
(b) The resolution authorizing the bonds or a trust indenture may provide for setting aside amounts under Subsection (a).
(c) The district may use proceeds from the sale of the bonds to pay an expense incurred in accomplishing the purposes of the district, including:
(1) the fees of attorneys, engineers, or fiscal agents; and
(2) the cost of printing and issuing the bonds.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.12, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.9011.htm
- Text hash
- sha256 b3134e4d196a05f0d1dd9e8780c5fdd534b6c69517ae0b26af06fb8dd7ab8cf5
- 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.