Sec. 441.178. USE OF BOND PROCEEDS. 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.
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