Sec. 284.005. SALE OF BONDS; USE OF PROCEEDS. (a) The bonds may be sold in the manner, at the price, and under the terms determined and provided by the commissioners court in the order authorizing the issuance of the bonds.
(b) If permitted by the bond order, a required part of the proceeds from the bond sale may be used for:
(1) the payment of interest on the bonds during the construction of hospital facilities financed with bond proceeds;
(2) the payment of operation and maintenance expenses of those facilities to the extent and for the period specified by the bond order; and
(3) the creation of reserves for the payment of bond principal and interest.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
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