Texas Education Code

§ 53B.38 — RESERVES FOR OPERATING AND OTHER EXPENSES

ED § 53B.38Title 3. HIGHER EDUCATION · Part A. HIGHER EDUCATION IN GENERAL · Ch. 53B. HIGHER EDUCATION LOAN AUTHORITIES · Art. C. POWERS AND DUTIES

Statute text

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Money for the payment of not more than two years' interest on the bonds and an amount estimated by the board to be required for operating expenses during the first year of operation may be set aside for those purposes out of the proceeds from the sale of the bonds.

Legislative history

Added by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 2, eff. September 1, 2005.