Texas § 45.1105 USE OF UNSPENT GENERAL OBLIGATION BOND PROCEEDS.

Texas Statutes

§ 45.1105 — USE OF UNSPENT GENERAL OBLIGATION BOND PROCEEDS.

Texas § 45.1105

Code EDEducation Code

This text of Texas § 45.1105 (USE OF UNSPENT GENERAL OBLIGATION BOND PROCEEDS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Education Code Code Ann. § 45.1105 (2026).

Text

Sec. 45.1105. USE OF UNSPENT GENERAL OBLIGATION BOND PROCEEDS.

(a)A school district may use the unspent proceeds of issued general obligation bonds only:

(1)for the specific purposes for which the bonds were authorized;

(2)to retire the bonds; or

(3)for a purpose other than the specific purposes for which the bonds were authorized if:

(A)the specific purposes are accomplished or abandoned; and

(B)the board of trustees at a public meeting held only for the purpose of considering the use of the unspent bond proceeds approves in separate votes the use of the proceeds for:

(i)a purpose other than to retire the bonds; and

(ii)the purpose specified at the time the vote is taken.

(b)In addition to other requirements of law, notice of a public meeting held under this section must include

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Sec. 45.1105. USE OF UNSPENT GENERAL OBLIGATION BOND PROCEEDS. (a) A school district may use the unspent proceeds of issued general obligation bonds only:
(1) for the specific purposes for which the bonds were authorized;
(2) to retire the bonds; or
(3) for a purpose other than the specific purposes for which the bonds were authorized if:
(A) the specific purposes are accomplished or abandoned; and
(B) the board of trustees at a public meeting held only for the purpose of considering the use of the unspent bond proceeds approves in separate votes the use of the proceeds for:
(i) a purpose other than to retire the bonds; and
(ii) the purpose specified at the time the vote is taken.
(b) In addition to other requirements of law, notice of a public meeting held under this section must include a statement that the board of trustees will consider the use of unspent bond proceeds for a purpose other than the specific purposes for which the bonds were authorized.
(c) A public meeting held under this section must provide the public an opportunity to address the board of trustees on the question of using the unspent bond proceeds for a purpose other than the specific purposes for which the bonds were authorized.