Sec. 58.395. EXPENDITURE OF LOAN PROCEEDS. No money obtained from a loan under Section 58.391 of this code may be spent for any purpose other than the purposes for which the pledged tax was levied or the pledged bonds were authorized.
Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 58 - Irrigation Districts
Section 58.391. Authority to Borrow Money
Section 58.392. Security for Loan
Section 58.393. Maturity Date of Loan
Section 58.394. Loan Secured by Bonds
Section 58.395. Expenditure of Loan Proceeds
Section 58.396. Loans Accomplished by Sale of District Bonds
Section 58.397. Pledge of Commercial Income