Sec. 1504.265. USE OF BOND PROCEEDS

Latest version.

From the proceeds of bonds issued under this subchapter, a municipality may appropriate or set aside amounts:
(1) to pay interest and administrative and operating expenses expected to accrue during the period of construction;
(2) to be deposited into the reserve fund as provided in the ordinance authorizing the issuance of the bonds; and
(3) to pay all expenses incurred in the issuance, sale, and delivery of the bonds.

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

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');