Tex. Spec. Dists. Code § 7803.205

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

Section 7803.205 - Use of Bond Proceeds During Construction

(a) The board may set aside part of the bond proceeds to:

(1) pay interest on the bonds during the period of construction of improvements or facilities; and

(2) create reserves for the payment of the principal of and interest on the bonds.

(b) For purposes of Subsection (a), the period of construction may not exceed two years.

Tex. Spec. Dist. Loc. Laws § 7803.205

Added by Acts 2013, 83rd Leg. - Regular Session, ch. 112,Sec. 1.02, eff. 4/1/2015.