203.255 – BOND PROCEEDS. (a) The proceeds of bonds issued
Texas Labor Code § 203.255
Summary
This law governs the handling of bond proceeds issued by the authority, allowing for their deposit with a trustee or the comptroller. It ensures that these funds are used exclusively for the benefit of the commission, including repayment of debts.
Bond proceeds can be held by a trustee or the comptroller.
Funds must be used exclusively for the commission's benefit.
Includes provisions for repayment of principal and interest.
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In simple terms: Learn about Texas's BOND PROCEEDS. (a) The proceeds of bonds issued law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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