Sec. 8270.255. 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 subchapter 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.
Redesignated from Special District Local Laws Code, Chapter 9013 and amended by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 21.101, eff. September 1, 2009.
Section: Previous 8270.153 8270.154 8270.155 8270.156 8270.157 8270.201 8270.202 8270.203 8270.204 8270.205 8270.251 8270.252 8270.253 8270.254 8270.255Last modified: September 28, 2016