Tex. Gov't Code § 1477.112

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 1477.112 - Use of Bond Proceeds

(a) The county shall disburse the proceeds of bonds issued under this subchapter in accordance with any restrictions provided in the order authorizing the bonds.

(b) The bondholders have a lien on the proceeds until the proceeds are applied.

(c) The bond proceeds, pending their use for the construction of the project, may be invested in direct obligations of the United States having maturities not more than 91 days from the date of investment.

Tex. Gov't. Code § 1477.112

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.