Tex. Local Government Code § 254.061
USE OF CERTAIN PROCEEDS
Texas · Texas Local Government Code · Status: effective
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- Citation
- Tex. Local Government Code § 254.061, USE OF CERTAIN PROCEEDS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/691397
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Full text
From the proceeds from the sale of obligations issued under this chapter, there may be appropriated or set aside:
(1) an amount for the payment of interest expected to accrue while an island property facility or improvement is under construction;
(2) an amount necessary to pay expenses related to the issuance, sale, and delivery of the obligations; and
(3) an amount required by the ordinance or resolution authorizing the issuance of the obligations to be deposited to the credit of a reserve or other fund.