Sec. 5201.052. USE OF BOND PROCEEDS LIMITED. The proceeds of bonds issued under this chapter may be spent only for the construction, acquisition, improvement, operation, or maintenance of a road facility as authorized by Section 5201.005.
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.04, eff. April 1, 2007.
Structure Texas Statutes
Special District Local Laws Code
Subtitle B - Road and Road Utility Districts
Chapter 5201 - Galveston County Road District No. 1
Section 5201.051. General Authority to Issue Bonds
Section 5201.052. Use of Bond Proceeds Limited
Section 5201.053. Security for Bonds
Section 5201.054. Authority to Issue Ad Valorem Tax Bonds