Tex. Educ. Code § 45.060 · Subchapter C. GUARANTEED BONDS

BONDS NOT ACCELERATED ON DEFAULT.

Verbatim from the official edition

Text — Current through the 89th 2nd Called Legislative Session, 2025

If a school district or charter district fails to pay principal or interest on a guaranteed bond when it matures, other amounts not yet mature are not accelerated and do not become due by virtue of the school district's or charter district's default.

Notes and commentary — not statutory text

History

Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995.

Amended by:

Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1), Sec. 59.15, eff. September 28, 2011.

Source of truth

Edition: Current through the 89th 2nd Called Legislative Session, 2025
Official file: https://statutes.capitol.texas.gov/Docs/ED/htm/ED.45.htm
Text hash: sha256 3489d9cb1629b94dff15b4b2111d053493b79d49780c51f03ded80f4be622680
Composed by: compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character

Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.