Texas Local Government Code § 293.056 Initial Interest

Sec. 293.056. INITIAL INTEREST. The board may set aside the following money from the proceeds from the sale of bonds:

(1) money necessary to pay interest on the bonds for not more than two years; and

(2) money that the board estimates to be necessary to pay the authority's operating expenses for its first year of operation.

Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.

Section: Previous  293.025  293.026  293.027  293.028  293.029  293.030  293.031  293.032  293.033  293.034  293.051  293.052  293.053  293.054  293.055

Last modified: September 28, 2016