Sec. 221.048. BOND PROCEEDS. If the use authorized by the order or resolution authorizing the issuance of a bond under Section 221.046, the bond proceeds may be used to:
(1) pay interest on the bond during or after the acquisition or construction of an improvement project financed by the bond issue;
(2) pay administrative and operation expenses;
(3) create a reserve fund for payment of the principal of and interest on the bonds; or
(4) create any other fund.
Added by Acts 1997, 75th Leg., ch. 165, Sec. 24.01(a), eff. Sept. 1, 1997.
Structure Texas Statutes
Chapter 221 - Wetland Mitigation
Subchapter C. Provisions for Political Subdivisions
Section 221.041. Application to Federal Agency
Section 221.042. Compliance With Federal Program
Section 221.043. County Approval of Political Subdivision Program
Section 221.044. Rules for Wetland Delineation
Section 221.046. Mitigation Bank Financing