Texas § GV.1253.003 - USE OF UNSPENT GENERAL OBLIGATION BOND PROCEEDS
Full text of Texas The Texas Constitution § GV.1253.003 — USE OF UNSPENT GENERAL OBLIGATION BOND PROCEEDS, with citation guidance and answers to common questions.
§ GV.1253.003. USE OF UNSPENT GENERAL OBLIGATION BOND PROCEEDS
USE OF UNSPENT GENERAL OBLIGATION BOND PROCEEDS. (a) A political subdivision other than a school district may use the unspent proceeds of issued general obligation bonds only: (1) for the specific purposes for which the bonds were authorized; (2) to retire the bonds; or (3) for a purpose other than the specific purposes for which the bonds were authorized if: (A) the specific purposes are accomplished or abandoned; and (B) a majority of the votes cast in an election held in the political subdivision approve the use of the proceeds for the proposed purpose. (b) The election order and the notice of election for an election described by Subsection (a)(3)(B) must state the proposed purpose for which the bond proceeds are to be used. (c) A political subdivision must hold an election described by Subsection (a)(3)(B) in the same manner as an election to issue bonds in the political subdivision. Added by Acts 2019, 86th Leg., R.S., Ch. 726 (H.B. 440 ), Sec. 3, eff. September 1, 2019.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.1253.003
What does The Texas Constitution § GV.1253.003 cover?
Section GV.1253.003 ("USE OF UNSPENT GENERAL OBLIGATION BOND PROCEEDS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.1253.003?
A common citation format is "The Texas Constitution § GV.1253.003" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.1253.003 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.