Texas § WA.60.111 - DEPOSIT OF PROCEEDS OF OBLIGATIONS
Full text of Texas The Texas Constitution § WA.60.111 — DEPOSIT OF PROCEEDS OF OBLIGATIONS, with citation guidance and answers to common questions.
§ WA.60.111. DEPOSIT OF PROCEEDS OF OBLIGATIONS
DEPOSIT OF PROCEEDS OF OBLIGATIONS; PAYMENT. (a) The proceeds of the sale of any obligations issued under this subchapter may be deposited in a bank or banks and paid out on terms and conditions agreed on by the purchaser at the sale and the commission. (b) The laws of this state relating to the deposit of district funds in the depository of the district shall not apply to the deposit of the proceeds of a sale governed by Subsection (a) of this section. (c) Any part of the proceeds of the sale of obligations issued under this subchapter which remains unspent after the project for which the obligations were authorized has been completed may be paid into the sinking fund for the payment of the obligations and may be used only for the payment of principal of the obligations or for the purpose of purchasing outstanding obligations in the manner provided by this subchapter. Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § WA.60.111
What does The Texas Constitution § WA.60.111 cover?
Section WA.60.111 ("DEPOSIT OF PROCEEDS OF OBLIGATIONS") 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 § WA.60.111?
A common citation format is "The Texas Constitution § WA.60.111" (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 § WA.60.111 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.