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Texas Government Code - GOV'T § 1477.312. Use of Bond Proceeds

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

(a) From the proceeds of bonds issued under this subchapter, the county may appropriate or set aside amounts to:

(1) pay interest expected to accrue during the construction period;

(2) deposit into a reserve fund, as provided in the order authorizing the bonds;  and

(3) pay all expenses incurred in the issuance, sale, and delivery of the bonds.

(b) The bond proceeds, until they are needed to implement the purpose for which the bonds were issued, may be invested in direct obligations of the United States, placed on time deposit, or both.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1477.312. Use of Bond Proceeds - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1477-312/

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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