Sec. 3873.203. TERMS AND CONDITIONS OF BONDS. (a) Bonds may be issued to mature serially or otherwise not more than 40 years from their date of issue.
(b) If provided by the bond order or resolution, the proceeds from the sale of bonds may be used to pay interest on the bonds during and after the period of the acquisition or construction of any park improvement project to be provided through the issuance of the bonds, to administrative and operation expenses to create a reserve fund for the payment of the principal of and interest on the bonds, and to create any other funds.
Added by Acts 2009, 81st Leg., R.S., Ch. 1202 (H.B. 4789), Sec. 1, eff. June 19, 2009.Section: Previous 3873.155 3873.156 3873.157 3873.158 3873.159 3873.160 3873.161 3873.162 3873.163 3873.201 3873.202 3873.203 3873.204 3873.205 3873.206 Next
Last modified: September 28, 2016