Texas Transportation Code - Section 257.120. Bond Proceeds
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§ 257.120. BOND PROCEEDS. (a) On the issuance and sale of
road district bonds under this subchapter, the commissioners court
of each county included in whole or part in the road district may
adopt any necessary order setting aside an amount of the proceeds
from the sale of the bonds as the ex officio directors of the road
district consider necessary to be used for the maintenance, repair,
and upkeep of the district's roads.
(b) The necessary expense incident to the issuance of the
bonds may be paid out of the proceeds from the sale of the bonds.
Acts 1995, 74th Leg., ch. 165, § 1, eff. Sept. 1, 1995.
Section: 257.113 257.114 257.115 257.116 257.117 257.118 257.119 257.120 257.121 257.122 257.123 257.124 257.901 258.001 258.002
Last modified: August 10, 2007
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