Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Government Code § 489.257: USE OF BOND PROCEEDS.

Where this section sits in the code

GOVERNMENT CODE
TITLE 4. EXECUTIVE BRANCH
SUBTITLE F. COMMERCE AND INDUSTRIAL DEVELOPMENT
CHAPTER 489. TEXAS ECONOMIC DEVELOPMENT BANK
SUBCHAPTER E. TEXAS SMALL AND RURAL COMMUNITY SUCCESS FUND

The proceeds from the sale of bonds issued under this subchapter may be applied only for a purpose for which the bonds were issued, except that:

(1) any secured interest received in the sale shall be applied to the payment of the principal of or interest on the bonds sold and, if a portion of the proceeds is not needed for a purpose for which the bonds were issued, that portion shall be applied to the payment of the principal of or interest on the bonds; and

(2) any premium received in the sale of the bonds shall be applied in accordance with Section 1201.042(d).

Added by Acts 2021, 87th Leg., R.S., Ch. 947 (S.B. 1465), Sec. 1, eff. June 18, 2021.

Collected 2026-08-27T01:47:16Z. Source file · JSON

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