Skip to main content
Find a Lawyer

Texas Special District Local Laws Code - SDLL § 11006.260. Use of Bond Proceeds

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

(a) The authority may set aside an amount of proceeds of the sale of authority bonds for:

(1) the payment of interest expected to accrue during construction not to exceed three years;

(2) a reserve interest and sinking fund; and

(3) other funds as may be provided in the resolution authorizing the bonds or in the trust indenture.

(b) The authority may use proceeds from the sale of bonds to pay any expense necessarily incurred in accomplishing the purpose of the authority, including:

(1) any expense of issuing and selling the bonds; and

(2) the amount needed to operate the authority during construction of the improvements. (Acts 66th Leg., R.S., Ch. 436, Sec. 13(f).)

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 11006.260. Use of Bond Proceeds - last updated January 01, 2024 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-11006-260/

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.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard