GroundRules
Tex. Local Government Code § 254.061: USE OF CERTAIN PROCEEDS.
Where this section sits in the code
- LOCAL GOVERNMENT CODE
- TITLE 8. ACQUISITION, SALE, OR LEASE OF PROPERTY
- SUBTITLE A. MUNICIPAL ACQUISITION, SALE, OR LEASE OF PROPERTY
- CHAPTER 254. ACQUISITION AND DEVELOPMENT OF ISLAND PROPERTY
- SUBCHAPTER C. OBLIGATIONS
From the proceeds from the sale of obligations issued under this chapter, there may be appropriated or set aside:
(1) an amount for the payment of interest expected to accrue while an island property facility or improvement is under construction;
(2) an amount necessary to pay expenses related to the issuance, sale, and delivery of the obligations; and
(3) an amount required by the ordinance or resolution authorizing the issuance of the obligations to be deposited to the credit of a reserve or other fund.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 9, eff. Sept. 1, 1999.
Collected 2026-08-27T01:47:27Z. Source file · JSON