Sec. 9061.205. 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 9061.057 9061.101 9061.102 9061.103 9061.104 9061.105 9061.151 9061.152 9061.153 9061.154 9061.155 9061.201 9061.202 9061.203 9061.204Last modified: September 28, 2016