Texas Education Code - Section 55.15. Disposition Of Bond Proceeds
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§ 55.15. DISPOSITION OF BOND PROCEEDS. Proceeds from the
sale of the bonds may be used for paying interest on the bonds
during the period of the acquisition or construction of any
facilities to be provided through the issuance of the bonds, and for
providing a reserve for the payment of the principal of and interest
on the bonds, and such proceeds may be placed on time deposit or
invested, until needed, to the extent, and in the manner provided,
in the bond resolution.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, § 1, eff. Sept.
1, 1971.
Section: 55.02 55.03 55.04 55.11 55.12 55.13 55.14 55.15 55.16 55.17 55.171 55.1711 55.1712 55.1713 55.1714
Last modified: August 10, 2007
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