Sec. 8271.202. 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 8271.054 8271.101 8271.102 8271.103 8271.104 8271.105 8271.106 8271.107 8271.151 8271.152 8271.153 8271.154 8271.155 8271.201 8271.202Last modified: September 28, 2016