Sec. 1371.102. USE OF CERTAIN PROCEEDS. (a) The proceeds from the sale of an obligation may be deposited or invested in any manner and in any obligation specified in the obligation authorization.
(b) A project cost incurred before the issuance of an obligation issued to finance the related eligible project may be reimbursed from the proceeds from the sale of the obligation.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle F - Specific Authority for State or Local Government to Issue Securities
Chapter 1371 - Obligations for Certain Public Improvements
Subchapter C. Financial Aspects of Obligation
Section 1371.101. Obligation as Negotiable Instrument and Investment Security
Section 1371.102. Use of Certain Proceeds
Section 1371.103. Security for Obligation
Section 1371.104. Source of Repayment of Obligation
Section 1371.105. Pledge or Lien on Resources, Assets, or Fund of Issuer
Section 1371.106. Pledge of or Lien on Sales or Use Tax Revenue