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Texas Special District Local Laws Code - SDLL § 8501.267. Use of Unspent Proceeds After Project Completion

Current as of April 14, 2021 | Updated by FindLaw Staff

Any part of the proceeds of the sale of an obligation issued under this chapter that are unspent after the project for which the obligations were authorized is completed may be paid into the sinking fund for the payment of the obligation and may be used only for:

(1) the payment of the principal of the obligation;  or

(2) the purpose of acquiring outstanding obligations by purchase in the manner provided by this chapter.

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Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 8501.267. Use of Unspent Proceeds After Project Completion - last updated April 14, 2021 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-8501-267/

Read this complete Texas Special District Local Laws Code - SDLL § 8501.267. Use of Unspent Proceeds After Project Completion on Westlaw

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 or via Westlaw before relying on it for your legal needs.

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