Tex. Special District Local Laws Code § 8101.260
USE OF BOND PROCEEDS
Texas · Texas Special District Local Laws Code · Status: effective
Cite this
- Citation
- Tex. Special District Local Laws Code § 8101.260, USE OF BOND PROCEEDS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/610409
- Permanent ID
ys:prov:610409@1- SHA-256
9dc75d22b0629b3c0ccd3e70c92a771e3ba2321f9443e1f8728f7dbf58f08d1d
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) The authority may set aside and use proceeds from bond sales for:
(1) the payment of interest expected to accrue during construction and the first year after construction; and
(2) a reserve interest and sinking fund.
(b) The authority may provide in the resolution authorizing the bonds or in the trust indenture for setting aside and using the proceeds as described by Subsection (a).
(c) The authority may use proceeds from the sale of bonds to pay an expense incurred in accomplishing the purposes of the authority.