Sec. 9026.205. USE OF BOND PROCEEDS. (a) The district may appropriate or set aside out of proceeds from the sale of district bonds an amount for:
(1) the payment of interest, administrative, and operating expenses expected to accrue during the period of construction, as may be provided in the bond orders or resolutions; and
(2) the payment of all expenses incurred and to be incurred in the issuance, sale, and delivery of the bonds.
(b) For purposes of this section, the period of construction may not exceed three years.
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.06, eff. April 1, 2015.
Section: Previous 9026.102 9026.103 9026.104 9026.105 9026.106 9026.107 9026.151 9026.152 9026.153 9026.154 9026.155 9026.201 9026.202 9026.203 9026.204Last modified: September 28, 2016