Sec. 6613.152.  DISTRICT FUNDS.  (a)  The interest and sinking fund consists of taxes collected for the fund.  Money in the interest and sinking fund may be paid out only to:
(1)  pay district bonds and satisfy and discharge interest on the bonds; and
(2)  defray the expense of imposing a tax for the fund.
(b)  The maintenance and improvement fund consists of money collected by assessment or other sources for:
(1)  the maintenance of property owned or acquired by the district;
(2)  necessary improvements to be made by the district; and
(3)  the general purposes of the district.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.01, eff. April 1, 2017.