Use of Bond Proceeds

Sec. 6610.255. USE OF BOND PROCEEDS. (a) The board may appropriate or set aside out of proceeds from the sale of district bonds an amount for: (1) the payment of interest expected to accrue during the period of construction of improvements or facilities; and (2) the payment of all expenses incurred and to be incurred in the issuance, sale, and delivery of the bonds. (b) For purposes of this section, the period of construction may not exceed three years. Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.01, eff. April 1, 2017.