Sec. 2306.207. RESERVE FUND. (a) The department may create a reserve fund with the comptroller out of:
(1) proceeds from the sale of the department's bonds; or
(2) other resources.
(b) The reserve fund is additional security for the division's bonds.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg., ch. 980, Sec. 32, eff. Sept. 1, 1997; Acts 1997, 75th Leg., ch. 1423, Sec. 8.75, eff. Sept. 1, 1997.
Structure Texas Statutes
Subtitle G - Economic Development Programs Involving Both State and Local Governments
Chapter 2306 - Texas Department of Housing and Community Affairs
Subchapter I. Housing Finance Division: Funds
Section 2306.201. Housing Trust Fund
Section 2306.202. Use of Housing Trust Fund
Section 2306.203. Rules Regarding Administration of Housing Trust Fund
Section 2306.204. Independent Audit of Housing Trust Fund
Section 2306.205. Transfer of Money to Housing Trust Fund
Section 2306.206. Housing Trust Fund Not Subject to Texas Trust Code