Tex. Local Gov't Code Section 254.061
Use of Certain Proceeds

From the proceeds from the sale of obligations issued under this chapter, there may be appropriated or set aside:

(1)

an amount for the payment of interest expected to accrue while an island property facility or improvement is under construction;

(2)

an amount necessary to pay expenses related to the issuance, sale, and delivery of the obligations; and

(3)

an amount required by the ordinance or resolution authorizing the issuance of the obligations to be deposited to the credit of a reserve or other fund.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 9, eff. Sept. 1, 1999.

Source: Section 254.061 — Use of Certain Proceeds, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­254.­htm#254.­061 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 254.061’s source at texas​.gov