Texas § 7807.205 USE OF BOND PROCEEDS.

Texas Statutes

§ 7807.205 — USE OF BOND PROCEEDS.

Texas § 7807.205

Code SDSpecial District Local Laws Code

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Bluebook

Tex. Special District Local Laws Code Code Ann. § 7807.205 (2026).

Text

Sec. 7807.205. USE OF BOND PROCEEDS.

(a)The board may set aside part of the bond proceeds to:

(1)pay interest on the bonds and administrative and operational expenses expected to accrue during the period of construction of the improvements or facilities; and

(2)create reserves for the payment of the principal of and interest on the bonds.

(b)For purposes of Subsection (a), the period of construction may not exceed two years.

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Sec. 7807.205. USE OF BOND PROCEEDS. (a) The board may set aside part of the bond proceeds to:
(1) pay interest on the bonds and administrative and operational expenses expected to accrue during the period of construction of the improvements or facilities; and
(2) create reserves for the payment of the principal of and interest on the bonds.
(b) For purposes of Subsection (a), the period of construction may not exceed two years.