Texas Transportation Code
§ 441.179 — DISPOSITION OF PROCEEDS
TN § 441.179Title 6. ROADWAYS · Part J. ROAD UTILITY DISTRICTS · Ch. 441. ROAD UTILITY DISTRICTS · Art. I. BONDS
Statute text
View on sourceThe district shall deposit the part of the purchase money of bonds that represents capitalized interest in a special account in the district depository and use that money to pay interest that comes due on bonds. Money remaining in that account after payment of the costs of issuance of the bonds shall be transferred to the credit of the regular account of the district in the district depository.
Legislative history
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.