Sec. 441.178. USE OF BOND PROCEEDS. The district may use bond proceeds to:
(1) construct, acquire, or improve a road facility;
(2) pay an expense related to the road facility;
(3) pay, or establish a reasonable reserve to pay, not more than three years' interest on the district's bonds; and
(4) pay an expense related to issuance and sale of bonds as provided by the bond orders or resolutions.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Subtitle J - Road Utility Districts
Chapter 441 - Road Utility Districts
Section 441.171. Issuance of Bonds
Section 441.172. Tax Bond Election
Section 441.173. Form and Provisions of Bonds
Section 441.175. Refunding Bonds
Section 441.176. Tax Exemption
Section 441.177. Bondholder Mandamus
Section 441.178. Use of Bond Proceeds