Tex. Educ. Code § 45.260 · Subchapter I. INTERCEPT PROGRAM TO PROVIDE CREDIT ENHANCEMENT FOR BONDS
BONDS NOT ACCELERATED ON FAILURE TO PAY.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
If a school district fails to pay principal or interest on a bond for which credit enhancement is provided under this subchapter when the amount matures, other amounts not yet mature are not accelerated and do not become due by virtue of the district's failure to pay amounts matured.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 1328 (H.B. 3646), Sec. 75, eff. September 1, 2009.
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 1693316a2eee110412984da084c8e63ece87a2cacea6ca4a9805e5d0cffe3035
- 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.