Sec. 9045.205. USE OF BOND PROCEEDS. (a) The district may appropriate or set aside out of proceeds from the sale of district bonds an amount for:
(1) the payment of interest, administrative, and operating expenses expected to accrue during the period of construction, as may be provided in the bond orders or resolutions; and
(2) the payment of all expenses incurred and to be incurred in the issuance, sale, and delivery of the bonds.
(b) For purposes of this section, the period of construction may not exceed three years.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.
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