Tex. Transportation Code § 317.111
This is the official text of Tex. Transportation Code § 317.111, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 317.111. USE OF CERTAIN PROCEEDS.
Official statutory text
From the proceeds of bonds issued under this chapter, the governing body of a municipality may appropriate or set aside:
(1) an amount for the payment of interest expected to accrue while a facility is under construction;
(2) an amount necessary to pay all expenses incurred and to be incurred in the issuance, sale, and delivery of the bonds; and
(3) in the case of revenue bonds, an amount required by the ordinance authorizing the issuance of the bonds to be deposited to the credit of a reserve fund or other fund specified by the ordinance.
(1) an amount for the payment of interest expected to accrue while a facility is under construction;
(2) an amount necessary to pay all expenses incurred and to be incurred in the issuance, sale, and delivery of the bonds; and
(3) in the case of revenue bonds, an amount required by the ordinance authorizing the issuance of the bonds to be deposited to the credit of a reserve fund or other fund specified by the ordinance.
Status: in_force · Read it on the official government site
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