Tex. Nat. Res. Code § 221.048

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

Section 221.048 - Bond Proceeds

If the use authorized by the order or resolution authorizing the issuance of a bond under Section 221.046, the bond proceeds may be used to:

(1) pay interest on the bond during or after the acquisition or construction of an improvement project financed by the bond issue;

(2) pay administrative and operation expenses;

(3) create a reserve fund for payment of the principal of and interest on the bonds; or

(4) create any other fund.

Tex. Nat. Res. Code § 221.048

Added by Acts 1997, 75th Leg., ch. 165, Sec. 24.01(a), eff. 9/1/1997.