{"data":{"id":"us-tx/tex.-local-government-code-254.061","jurisdiction":"us-tx","citation":"Tex. Local Government Code § 254.061","heading":"USE OF CERTAIN PROCEEDS.","body":"From the proceeds from the sale of obligations issued under this chapter, there may be appropriated or set aside:\n(1) an amount for the payment of interest expected to accrue while an island property facility or improvement is under construction;\n(2) an amount necessary to pay expenses related to the issuance, sale, and delivery of the obligations; and\n(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.\nAdded by Acts 1999, 76th Leg., ch. 227, Sec. 9, eff. Sept. 1, 1999.","path":["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"],"source_url":"https://statutes.capitol.texas.gov/Docs/LG/htm/LG.254.htm#254.061","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:27Z","sha256":"066b133fd5e23e453a81e76eb68185919a70b54d70ef9cbff4b55bbe5c4c5f14","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-local-government-code-254.060","next":"us-tx/tex.-local-government-code-254.062"},"notice":"GroundRules: Original legal text. Not legal advice."}