Sec. 1477.112. USE OF BOND PROCEEDS. (a) The county shall disburse the proceeds of bonds issued under this subchapter in accordance with any restrictions provided in the order authorizing the bonds.
(b) The bondholders have a lien on the proceeds until the proceeds are applied.
(c) The bond proceeds, pending their use for the construction of the project, may be invested in direct obligations of the United States having maturities not more than 91 days from the date of investment.
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 1477 - Obligations for Other County Purposes
Subchapter C. Natural Gas System for County Buildings in Certain Counties
Section 1477.101. Applicability of Subchapter
Section 1477.102. Authority to Acquire Natural Gas System
Section 1477.103. Natural Gas System Facilities
Section 1477.104. Authority to Issue Bonds
Section 1477.105. Bonds Not Payable From Taxes
Section 1477.106. Notice of Intention to Issue Bonds
Section 1477.108. Contents of Order Authorizing Bonds
Section 1477.110. Signatures; Registration by County Treasurer
Section 1477.111. Sale of Bonds
Section 1477.112. Use of Bond Proceeds
Section 1477.113. Additional Bonds
Section 1477.114. Gas Rates and Charges
Section 1477.115. Bondholder's Right to Mandamus
Section 1477.116. Refunding Bonds
Section 1477.117. Exemption From Assessment or Taxation
Section 1477.118. County Use of Gas
Section 1477.119. Sale of Gas Not Needed for County Purposes
Section 1477.120. Eminent Domain