1001.358 – USE OF REVENUE BOND PROCEEDS. (a) If permitted
Texas Special District Local Laws Code § 1001.358
Summary
This law allows the proceeds from revenue bonds to be used for specific purposes related to hospital facilities. It affects entities involved in financing and operating such facilities, ensuring they can cover interest, operational costs, and reserves as outlined in the bond ordinance.
Proceeds can cover interest during hospital construction.
Funds may be used for operational and maintenance expenses.
Reserves for principal and interest payments are permitted.
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In simple terms: Learn about Texas's USE OF REVENUE BOND PROCEEDS. (a) If permitted 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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