Section 2306.373 - Use of Bond Proceeds The board may provide in a resolution authorizing the issuance of department bonds that part of the proceeds from the sale of the bonds may be used to:
(1) pay the costs and expenses of issuing the bonds;(2) pay interest on the bonds during a period required by the board;(3) pay or repay the department's operation and maintenance expenses to the extent and for the period specified in the resolution; and(4) fund, increase, or restore any depletions of the reserve fund or of other reserves or funds for any purpose.Tex. Gov't. Code § 2306.373
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. 9/1/1993.