Sec. 22.036. PAYMENT OF INTEREST AND EXPENSES. The department may set aside amounts from the proceeds of the sale of a bond issue for:
(1) the payment of interest anticipated to accrue during the construction period;
(2) a deposit into the reserve for the interest and sinking fund to the extent prescribed in the authorizing proceedings; and
(3) payment of attorney's fees, engineer's fees, and expenses of the issuance and sale of bonds, including the fees of fiscal agents or financial advisors.
Acts 1975, 64th Leg., p. 1405, ch. 545, Sec. 1, eff. Sept. 1, 1975.
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