Tex. Spec. Dist. Local Laws Code Section 1040.209
Use of Bond Proceeds

The district may use the proceeds of bonds issued under this subchapter to pay:

(1)

any expense the board determines is reasonable and necessary to issue, sell, and deliver the bonds;

(2)

interest payments on the bonds during a period of acquisition or construction of a project or facility to be provided through the bonds, not to exceed five years;

(3)

costs related to the operation and maintenance of a project or facility to be provided through the bonds:

(A)

during an estimated period of acquisition or construction, not to exceed five years; and

(B)

for one year after the project or facility is acquired or constructed;

(4)

costs related to the financing of the bond funds, including debt service reserve and contingency funds;

(5)

costs related to the bond issuance;

(6)

costs related to the acquisition of land or interests in land for a project or facility to be provided through the bonds; and

(7)

construction costs of a project or facility to be provided through the bonds, including the payment of related professional services and expenses.
Added by Acts 2015, 84th Leg., R.S., Ch. 131 (H.B. 795), Sec. 6, eff. May 28, 2015.

Source: Section 1040.209 — Use of Bond Proceeds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­1040.­htm#1040.­209 (accessed May 4, 2024).

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Accessed:
May 4, 2024

§ 1040.209’s source at texas​.gov