Texas Transportation Code 441.178 – Use of Bond Proceeds
Current as of: 2024 | Check for updates
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The district may use bond proceeds to:
(1) construct, acquire, or improve a road facility;
(2) pay an expense related to the road facility;
(3) pay, or establish a reasonable reserve to pay, not more than three years’ interest on the district’s bonds; and
(4) pay an expense related to issuance and sale of bonds as provided by the bond orders or resolutions.