Current as of April 14, 2021 | Updated by FindLaw Staff
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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.
Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1471.028. Use of Surplus Sinking Fund - last updated April 14, 2021 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1471-028/
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