USE OF BOND PROCEEDS

The district may use the proceeds of bonds issued under this subchapter to pay: (1) any expense the board determines is reasonable and necessary to issue, sell, and deliver the bonds; (2) interest payments on the bonds during a period of acquisition or construction of a project or facility to be provided through the bonds, not to exceed five years; (3) costs related to the operation and maintenance of a project or facility to be provided through the bonds: (A) during an estimated period of acquisition or construction, not to exceed five years; and (B) for one year after the project or facility is acquired or constructed; (4) costs related to the financing of the bond funds, including debt service reserve and contingency funds; (5) costs related to the bond issuance; (6) costs related to the acquisition of land or interests in land for a project or facility to be provided through the bonds; and (7) costs of construction of a project or facility to be provided through the bonds, including the payment of related professional services and expenses.