Tex. Gov't Code § 1207.021 · Subchapter B. ADVANCE REFUNDING PROCEDURES
AUTHORITY TO DEPOSIT WITH COMPTROLLER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An issuer is entitled to deposit with the comptroller an amount of money equal to the sum of:
(1) the principal amount of the bonds, notes, or other obligations to be refunded;
(2) the interest that will accrue on those bonds, notes, or other obligations computed to the due date or redemption date; and
(3) any required redemption premium.
(b) At the time a deposit is made under Subsection (a), the issuer shall deliver to the comptroller a certified copy of the proceedings that authorize the issuance of the obligations to be refunded, or a certified excerpt from those proceedings, that clearly shows:
(1) each amount of interest and the date on which that amount of interest is due on the obligations to be refunded;
(2) the date the principal is subject to redemption; and
(3) the name and address of the paying agent.
(c) The comptroller may rely on a certificate by the issuer as to the amount of the charges made by the paying agent.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1207.htm
- Text hash
- sha256 9cc82aac718fdb423af8bff06858aa00d585e2dac487dab812377cfae8bf00e7
- 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.