Sec. 8262.202. USE OF BOND PROCEEDS DURING CONSTRUCTION. (a) The district may appropriate or set aside out of the proceeds from the sale of any bonds issued under this chapter an amount for the payment of interest, administrative, and operating expenses expected to accrue during a period of construction, as may be provided in the bond orders or resolutions.
(b) For purposes of this section, the period of construction may not exceed three years.
Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.04, eff. April 1, 2011.
Section: Previous 8262.054 8262.101 8262.102 8262.103 8262.104 8262.105 8262.106 8262.107 8262.151 8262.152 8262.153 8262.154 8262.155 8262.201 8262.202Last modified: September 28, 2016