Sec. 8279.203. 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 8279.054 8279.055 8279.101 8279.102 8279.103 8279.104 8279.105 8279.151 8279.152 8279.153 8279.154 8279.155 8279.201 8279.202 8279.203Last modified: September 28, 2016