Texas § 221.048 BOND PROCEEDS.

Texas Statutes

§ 221.048 — BOND PROCEEDS.

Texas § 221.048

Code NRNatural Resources Code

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Bluebook

Tex. Natural Resources Code Code Ann. § 221.048 (2026).

Text

Sec. 221.048. BOND PROCEEDS. If the use authorized by the order or resolution authorizing the issuance of a bond under Section 221.046 , the bond proceeds may be used to:

(1)pay interest on the bond during or after the acquisition or construction of an improvement project financed by the bond issue;

(2)pay administrative and operation expenses;

(3)create a reserve fund for payment of the principal of and interest on the bonds; or

(4)create any other fund.

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Sec. 221.048. BOND PROCEEDS. If the use authorized by the order or resolution authorizing the issuance of a bond under Section 221.046 , the bond proceeds may be used to:
(1) pay interest on the bond during or after the acquisition or construction of an improvement project financed by the bond issue;
(2) pay administrative and operation expenses;
(3) create a reserve fund for payment of the principal of and interest on the bonds; or
(4) create any other fund.