Texas Water Code
§ 54.521 — USE OF BOND PROCEEDS TO PAY CERTAIN INTEREST
WA § 54.521Title 4. GENERAL LAW DISTRICTS · Ch. 54. MUNICIPAL UTILITY DISTRICTS · Art. F. ISSUANCE OF BONDS
Statute text
View on sourceThe district may use bond proceeds to pay or to establish a reasonable reserve to pay not more than three years' interest on the notes and bonds of the district as provided in the bond orders or resolutions.
Legislative history
Added by Acts 1979, 66th Leg., p. 882, ch. 402, Sec. 1, eff. Aug. 27, 1979.