Texas Transportation Code

§ 441.178 — USE OF BOND PROCEEDS

TN § 441.178Title 6. ROADWAYS · Part J. ROAD UTILITY DISTRICTS · Ch. 441. ROAD UTILITY DISTRICTS · Art. I. BONDS

The district may use bond proceeds to:

(1)construct, acquire, or improve a road facility;

(2)pay an expense related to the road facility;

(3)pay, or establish a reasonable reserve to pay, not more than three years' interest on the district's bonds; and

(4)pay an expense related to issuance and sale of bonds as provided by the bond orders or resolutions.

Legislative history

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.