Sec. 1472.006. USE OF FUNDS ESTABLISHED FOR BONDS BEING REFUNDED. On cancellation of the bonds being refunded, the commissioners court may use money in any fund established by the resolution or order authorizing the issuance of the bonds to be refunded:
(1) to pay the principal of and accrued interest on the bonds to be refunded;
(2) to pay any required redemption premium;
(3) to make a payment into the road and bridge fund of the county; or
(4) for any other lawful purpose.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle I - Specific Authority for Counties to Issue Securities
Chapter 1472 - Refunding of County Bonds for Causeways
Section 1472.001. Applicability of Chapter
Section 1472.002. Authority to Issue Refunding Bonds
Section 1472.004. Sale of Bonds
Section 1472.005. Exchange or Repayment of Bonds Being Refunded
Section 1472.006. Use of Funds Established for Bonds Being Refunded