Sec. 1001.358. USE OF REVENUE BOND PROCEEDS. (a) If permitted in the bond ordinance, any required part of the proceeds from the sale of the revenue bonds may be used to:
(1) pay interest on the bonds during the construction of a hospital facility to be provided through the issuance of the bonds;
(2) pay operation and maintenance expenses of the facility to the extent and for the time specified in the bond ordinance; and
(3) create reserves for the payment of the principal of and interest on the bonds.
(b) The proceeds of the bonds may be invested until needed to the extent and in the manner provided by the bond ordinance.
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2007.
Structure Texas Statutes
Special District Local Laws Code
Subtitle A - Hospital Districts
Chapter 1001 - City of Amarillo Hospital District
Section 1001.351. General Obligation Bonds
Section 1001.352. Tax to Pay General Obligation Bonds
Section 1001.353. General Obligation Bond Election
Section 1001.354. Execution of General Obligation Bonds
Section 1001.355. Investment of General Obligation Bond Proceeds
Section 1001.356. Revenue Bonds
Section 1001.357. Payment of Revenue Bonds; Security
Section 1001.358. Use of Revenue Bond Proceeds
Section 1001.359. Charge for Occupancy or Use of Hospital Facility