INITIAL INTEREST.

Tex. LOC. GOV'T Code § 293.056.
in effect
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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.
Source: TX Statutes (Official Site)URL: https://statutes.capitol.texas.gov/Fetched: 6/29/2026

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