Tex. Spec. Dist. Local Laws Code § 9305.0505 · Subchapter E. BONDS
USE OF BOND PROCEEDS.
Not yet in force
Text of section effective on April 01, 2027
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 the payment of interest to accrue during construction and for one year after construction and a reserve interest and sinking fund.
(b) The district may use proceeds from the sale of the bonds to pay any expense incurred in accomplishing the purpose for which the district is created, including:
(1) the cost of printing and issuing the bonds; and
(2) payment of fees associated with attorneys, fiscal agents, and engineers.
(c) Pending the use of bond proceeds for the purpose for which the bonds were issued, the board may invest the proceeds in obligations of or guaranteed by the United States.
Notes and commentary — not statutory text
History
Added by Acts 2025, 89th Leg., R.S., Ch. 203 (H.B. 1615), Sec. 1.04, eff. April 1, 2027.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.9305.htm
- Text hash
- sha256 06627b2a45a7f659357e5e190257a2d0972cbbe56f0c69ea7225b564b1e5900d
- 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.