The district may use bond proceeds to:
- (1) construct, acquire, or improve a road facility;
- (2) pay an expense related to the road facility;
- (3) pay, or establish a reasonable reserve to pay, not more than three years' interest on the district's bonds; and
- (4) pay an expense related to issuance and sale of bonds as provided by the bond orders or resolutions.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.