INITIAL INTEREST
Known as the County Building Authority Act
The act spans §§ 293.001 to 293.056 (24 sections).
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff
The board may set aside the following money from the proceeds from the sale of bonds:
(1) money necessary to pay interest on the bonds for not more than two years; and
(2) money that the board estimates to be necessary to pay the authority's operating expenses for its first year of operation.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.