Sec. 2306.373. USE OF BOND PROCEEDS. The board may provide in a resolution authorizing the issuance of department bonds that part of the proceeds from the sale of the bonds may be used to:
(1) pay the costs and expenses of issuing the bonds;
(2) pay interest on the bonds during a period required by the board;
(3) pay or repay the department's operation and maintenance expenses to the extent and for the period specified in the resolution; and
(4) fund, increase, or restore any depletions of the reserve fund or of other reserves or funds for any purpose.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
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