Tex. Educ. Code Section 53B.38
Reserves for Operating and Other Expenses

Money for the payment of not more than two years’ interest on the bonds and an amount estimated by the board to be required for operating expenses during the first year of operation may be set aside for those purposes out of the proceeds from the sale of the bonds.
Added by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 2, eff. September 1, 2005.

Source: Section 53B.38 — Reserves for Operating and Other Expenses, https://statutes.­capitol.­texas.­gov/Docs/ED/htm/ED.­53B.­htm#53B.­38 (accessed May 26, 2025).

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Verified:
May 26, 2025

§ 53B.38. Reserves for Operating & Other Expenses's source at texas​.gov