Tex. Spec. Dists. Code § 8501.267

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

Section 8501.267 - Use of Unspent Proceeds After Project Completion

Any part of the proceeds of the sale of an obligation issued under this chapter that are unspent after the project for which the obligations were authorized is completed may be paid into the sinking fund for the payment of the obligation and may be used only for:

(1) the payment of the principal of the obligation; or

(2) the purpose of acquiring outstanding obligations by purchase in the manner provided by this chapter.

Tex. Spec. Dist. Loc. Laws § 8501.267

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. 4/1/2005.