Tex. Local Government Code § 254.061
This is the official text of Tex. Local Government Code § 254.061, part of Texas’s Local Government Code — governs the powers and operations of Texas cities and counties.
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§ 254.061. USE OF CERTAIN PROCEEDS.
Official statutory text
From the proceeds from the sale of obligations issued under this chapter, there may be appropriated or set aside:
(1) an amount for the payment of interest expected to accrue while an island property facility or improvement is under construction;
(2) an amount necessary to pay expenses related to the issuance, sale, and delivery of the obligations; and
(3) an amount required by the ordinance or resolution authorizing the issuance of the obligations to be deposited to the credit of a reserve or other fund.
(1) an amount for the payment of interest expected to accrue while an island property facility or improvement is under construction;
(2) an amount necessary to pay expenses related to the issuance, sale, and delivery of the obligations; and
(3) an amount required by the ordinance or resolution authorizing the issuance of the obligations to be deposited to the credit of a reserve or other fund.
Status: in_force · Read it on the official government site
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