Tex. Loc. Gov't Code § 505.302

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 505.302 - Payment of Project Costs, Bonds, or Other Obligations

The proceeds of the sales and use tax imposed under this chapter may be used to:

(1) pay the costs of projects of the types added to the definition of "project" by Subchapter D; or

(2) pay the principal of, interest on, and other costs relating to bonds or other obligations issued by the Type B corporation to:

(A) pay the costs of the projects; or

(B) refund bonds or other obligations issued to pay the costs of projects.

Tex. Loc. Gov't. Code § 505.302

Added by Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 3.01, eff. 4/1/2009.