Sec. 56.809. UNEXPENDED BOND PROCEEDS. Any money received from the sale of bonds by a consolidating district that has not been spent before the date of consolidation may be spent by the consolidated district only on the project for which the bonds were issued.
Added by Acts 1999, 76th Leg., ch. 222, Sec. 12, eff. Sept. 1, 1999.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 56 - Drainage Districts
Subchapter K. Consolidation of Districts
Section 56.801. Consolidation of Districts
Section 56.802. Consolidation by Agreement
Section 56.803. Consolidation by Petition
Section 56.804. Time of Holding Election; Cost of Election
Section 56.806. Canvass; Result
Section 56.807. Governing Consolidated Districts; Election of Directors
Section 56.808. Title to Property; Assumption of Debt