Uso de los ingresos de valores públicos en Texas

Sec. 1201.042. USE OF CERTAIN PROCEEDS. (a) An issuer may use the proceeds of a public security issued to finance the acquisition, construction, or improvement of a project or facility to: (1) pay interest on the public security while the project or facility is being acquired, constructed, or improved and for the year after it is acquired, constructed, or improved; (2) operate and maintain the project or facility during the estimated period of acquisition, construction, or improvement of the project or facility and for one year after it is acquired, Statute text rendered on: 2/14/2025 - 6779 - GOVERNMENT CODE constructed, or improved; (3) finance other funds relating to the public security, including debt service reserve and contingency; and (4) pay the cost or expense of the issuance of the public security. (b) To the extent and in the manner provided in a public security authorization, until the proceeds from a public security described by Subsection (a) are needed the proceeds may be: (1) placed on time deposit; or (2) invested in an obligation authorized for the investment of money of the issuer. (c) Proceeds from the sale of a public security issued to finance the acquisition, construction, equipping, or furnishing of a project or facility may be used to reimburse the issuer for a cost that is: (1) attributable to the project or facility; and (2) paid or incurred before the date of the public security's issuance. (d) An issuer may spend a premium received by the issuer a