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Texas Government Code - GOV'T § 1473.272. Use of Bond Proceeds

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The commissioners court may set aside from the bond proceeds:

(1) money to pay interest on the bonds; and

(2) money in the amount the commissioners court estimates to be required for operating expenses until the parking facility becomes sufficiently operational.

(b) The commissioners court may not set aside money under this section in an amount that exceeds the amount of money necessary to cover interest and operating expenses for the estimated period of construction and the first two years of operation, less any earnings during that time.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1473.272. Use of Bond Proceeds - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1473-272/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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