Sec. 8506.206. DEPOSIT OF PROCEEDS. The proceeds of sale of authority bonds shall be deposited in one or more banks or trust companies, and shall be paid out according to the terms, on which the authority and the purchasers of the bonds agree.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.05, eff. April 1, 2017.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle G - River Authorities
Chapter 8506 - Upper Colorado River Authority
Subchapter E. Obligations Relating to Borrowed Money or Grants
Section 8506.201. Loans and Grants
Section 8506.202. State Pledge Regarding Rights and Remedies of Bondholders
Section 8506.203. Obligation Payable From Revenue
Section 8506.204. Power to Issue Revenue Bonds
Section 8506.205. Terms of Issuance
Section 8506.206. Deposit of Proceeds
Section 8506.207. Resolution Provisions
Section 8506.208. Default Procedures
Section 8506.209. Power of Authority to Purchase Bonds Issued by Authority