Sec. 9045.205. USE OF BOND PROCEEDS. (a) The district may appropriate or set aside out of proceeds from the sale of district bonds an amount for:
(1) the payment of interest, administrative, and operating expenses expected to accrue during the period of construction, as may be provided in the bond orders or resolutions; and
(2) the payment of all expenses incurred and to be incurred in the issuance, sale, and delivery of the bonds.
(b) For purposes of this section, the period of construction may not exceed three years.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.
Section: Previous 9045.057 9045.101 9045.102 9045.103 9045.104 9045.105 9045.151 9045.152 9045.153 9045.154 9045.155 9045.201 9045.202 9045.203 9045.204Last modified: September 28, 2016