Tex. Transp. Code § 283.201 · Subchapter C. PROVISIONS RELATING TO BONDS
BOND PROCEEDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Except as provided in Subsection (b), the proceeds of bonds issued under this chapter shall be:
(1) used only to pay the cost of the project described by Section 283.202; and
(2) disbursed consistent with the terms of the bond instrument.
(b) Bond proceeds remaining after the cost of the project has been paid in full shall be used to pay interest on and retire the bonds.
(c) Unless otherwise provided in a bond instrument, if the bond proceeds are insufficient to pay the cost of the project, additional bonds may be issued up to the amount of the deficit and the bonds are:
(1) considered part of the same issue as the bonds first issued; and
(2) entitled to payment from the same fund without preference or priority of the bonds first issued.
Notes and commentary — not statutory text
History
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.283.htm
- Text hash
- sha256 51880ecac8e6f1c7a547e4e0df03749fe030c4e140b4e23265b0596051e4ce48
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Transportation Code
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.