Texas Natural Resources Code

§ 221.048 — BOND PROCEEDS

NR § 221.048Title 12. WETLANDS · Ch. 221. WETLAND MITIGATION · Art. C. PROVISIONS FOR POLITICAL SUBDIVISIONS

If the use authorized by the order or resolution authorizing the issuance of a bond under Section 221.046, the bond proceeds may be used to:

(1)pay interest on the bond during or after the acquisition or construction of an improvement project financed by the bond issue;

(2)pay administrative and operation expenses;

(3)create a reserve fund for payment of the principal of and interest on the bonds; or

(4)create any other fund.

Legislative history

Added by Acts 1997, 75th Leg., ch. 165, Sec. 24.01(a), eff. Sept. 1, 1997.