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Tex. Special District Local Laws Code § 7803.205

USE OF BOND PROCEEDS DURING CONSTRUCTION

Texas · Texas Special District Local Laws Code · Status: effective

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Tex. Special District Local Laws Code § 7803.205, USE OF BOND PROCEEDS DURING CONSTRUCTION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/603199
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(a) The board may set aside part of the bond proceeds to: (1) pay interest on the bonds during the period of construction of improvements or facilities; and (2) create reserves for the payment of the principal of and interest on the bonds. (b) For purposes of Subsection (a), the period of construction may not exceed two years.