Sec. 1471.028. USE OF SURPLUS SINKING FUND

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An amount remaining in the sinking fund after the principal of and interest on the bonds are fully paid may be used by a political subdivision:
(1) for the construction, maintenance, and operation of macadamized, graveled, or paved roads or turnpikes;
(2) to aid a purpose described by Subdivision (1); or
(3) for a permanent improvement authorized by law as determined by the officials of the political subdivision.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

                    
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