On cancellation of the bonds being refunded, the commissioners court may use money in any fund established by the resolution or order authorizing the issuance of the bonds to be refunded:

1. (1) to pay the principal of and accrued interest on the bonds to be refunded;
2. (2) to pay any required redemption premium;
3. (3) to make a payment into the road and bridge fund of the county; or
4. (4) for any other lawful purpose.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.