Tex.
Water Code Section 17.074
Interest and Sinking Fund
(1)
pay the interest coming due on all outstanding bonds other than bonds covered by Sections 17.0111 (Dedication of Certain Bonds) and 17.0112 (Authorization of Certain Bonds for Financial Assistance) of this code during the ensuing fiscal year;(2)
pay the principal on all bonds other than bonds covered by Sections 17.0111 (Dedication of Certain Bonds) and 17.0112 (Authorization of Certain Bonds for Financial Assistance) of this code that mature during the ensuing fiscal year, plus collection charges and exchanges on the bonds; and(3)
establish a reserve equal to the average annual principal and interest requirements on all outstanding bonds other than bonds covered by Sections 17.0111 (Dedication of Certain Bonds) and 17.0112 (Authorization of Certain Bonds for Financial Assistance) of this code.
Source:
Section 17.074 — Interest and Sinking Fund, https://statutes.capitol.texas.gov/Docs/WA/htm/WA.17.htm#17.074
(accessed Jun. 5, 2024).