Texas Transportation Code
Sec. § 54.112
Use of Certain Proceeds

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


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


an amount necessary to pay all expenses incurred and to be incurred in the issuance, sale, and delivery of the obligations; and


an amount required by the ordinance or resolution authorizing the issuance of the obligations to be deposited to the credit of a reserve fund or other fund specified by the ordinance or resolution.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 20, eff. Sept. 1, 1999.
Last accessed
Apr. 14, 2021