Texas § 489.257 USE OF BOND PROCEEDS.

Texas Statutes

§ 489.257 — USE OF BOND PROCEEDS.

Texas § 489.257

Code GVGovernment Code

This text of Texas § 489.257 (USE OF 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. Government Code Code Ann. § 489.257 (2026).

Text

Sec. 489.257. USE OF BOND PROCEEDS. The proceeds from the sale of bonds issued under this subchapter may be applied only for a purpose for which the bonds were issued, except that:

(1)any secured interest received in the sale shall be applied to the payment of the principal of or interest on the bonds sold and, if a portion of the proceeds is not needed for a purpose for which the bonds were issued, that portion shall be applied to the payment of the principal of or interest on the bonds; and

(2)any premium received in the sale of the bonds shall be applied in accordance with Section 1201.042 (d).

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 489.257. USE OF BOND PROCEEDS. The proceeds from the sale of bonds issued under this subchapter may be applied only for a purpose for which the bonds were issued, except that:
(1) any secured interest received in the sale shall be applied to the payment of the principal of or interest on the bonds sold and, if a portion of the proceeds is not needed for a purpose for which the bonds were issued, that portion shall be applied to the payment of the principal of or interest on the bonds; and
(2) any premium received in the sale of the bonds shall be applied in accordance with Section 1201.042 (d).