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

Current as of January 01, 2024 | 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 January 01, 2024 | 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. Westlaw subscription required.

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