Texas Government Code - GOV'T § 1201.042. Use of Certain Proceeds

(1) pay interest on the public security while the project or facility is being acquired, constructed, or improved and for the year after it is acquired, constructed, or improved;

(2) operate and maintain the project or facility during the estimated period of acquisition, construction, or improvement of the project or facility and for one year after it is acquired, constructed, or improved;

(3) finance other funds relating to the public security, including debt service reserve and contingency;  and

(4) pay the cost or expense of the issuance of the public security.

(1) placed on time deposit;  or

(2) invested in an obligation authorized for the investment of money of the issuer.

(1) attributable to the project or facility;  and

(2) paid or incurred before the date of the public security's issuance.

(1) to provide for payment of debt service on the public securities sold;

(2) to contribute to an escrow established to provide for payment of debt service on obligations being refunded through the sale of the public securities;

(3) to pay the cost or expense of issuing the public securities;  or

(4) to pay any other cost related to the purpose for which the public securities were issued, as specified in the public security authorization.