Texas § 54.112 USE OF CERTAIN PROCEEDS.

Texas Statutes

§ 54.112 — USE OF CERTAIN PROCEEDS.

Texas § 54.112

Code TNTransportation Code

This text of Texas § 54.112 (USE OF CERTAIN 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. Transportation Code Code Ann. § 54.112 (2026).

Text

Sec. 54.112. USE OF CERTAIN PROCEEDS. From the proceeds from the sale of obligations issued under this chapter, there may be appropriated or set aside:

(1)an amount for the payment of interest expected to accrue while a port improvement or facility is under construction;

(2)an amount necessary to pay all expenses incurred and to be incurred in the issuance, sale, and delivery of the obligations; and

(3)an amount required by the ordinance or resolution authorizing the issuance of the obligations to be deposited to the credit of a reserve fund or other fund specified by the ordinance or resolution.

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Sec. 54.112. USE OF CERTAIN PROCEEDS. From the proceeds from the sale of obligations issued under this chapter, there may be appropriated or set aside:
(1) an amount for the payment of interest expected to accrue while a port improvement or facility is under construction;
(2) an amount necessary to pay all expenses incurred and to be incurred in the issuance, sale, and delivery of the obligations; and
(3) an amount required by the ordinance or resolution authorizing the issuance of the obligations to be deposited to the credit of a reserve fund or other fund specified by the ordinance or resolution.