Tex. Gov't Code § 1471.028

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 1471.028 - Use of Surplus Sinking Fund

An amount remaining in the sinking fund after the principal of and interest on the bonds are fully paid may be used by a political subdivision:

(1) for the construction, maintenance, and operation of macadamized, graveled, or paved roads or turnpikes;

(2) to aid a purpose described by Subdivision (1); or

(3) for a permanent improvement authorized by law as determined by the officials of the political subdivision.

Tex. Gov't. Code § 1471.028

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.