Sec. 8278.203. 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 8278.055 8278.101 8278.102 8278.103 8278.104 8278.105 8278.151 8278.152 8278.153 8278.154 8278.155 8278.156 8278.201 8278.202 8278.203Last modified: September 28, 2016