Sec. 293.056. INITIAL INTEREST. The board may set aside the following money from the proceeds from the sale of bonds:
(1) money necessary to pay interest on the bonds for not more than two years; and
(2) money that the board estimates to be necessary to pay the authority's operating expenses for its first year of operation.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Title 9 - Public Buildings and Grounds
Subtitle B - County Public Buildings
Chapter 293 - County Building Authority Act
Section 293.051. Revenue Bonds
Section 293.052. Junior Lien Bonds; Parity Bonds
Section 293.053. Examination and Approval
Section 293.054. Legal and Authorized Investments