Tex. Gov't Code § 1471.083 · Subchapter D. COMPENSATION BONDS
EXCHANGE OF BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If county bonds are authorized for commissioners or justice precinct or road district bonds that have been issued and sold, an exchange of a like amount of the county bonds may be made with the holder of any outstanding bonds of the precinct or district.
(b) An agreement for an exchange under this section must:
(1) be by order of the commissioners court authorizing the exchange; and
(2) contain the signed and acknowledged written consent of the holder of the bonds in the form required by law for written instruments.
(c) A copy of the order authorizing the exchange, the agreement, and the county bonds to be given in exchange shall be submitted to the attorney general for approval. The exchange is not effective until the attorney general issues a certificate approving the exchange.
(d) If the exchange takes effect under this section:
(1) the commissioners court shall cancel and destroy the bonds of the precinct or district;
(2) the county may not impose the tax approved at the election of the precinct or district authorizing the bonds; and
(3) the sinking fund associated with the bonds of the precinct or district shall be transferred to the sinking fund account of the county.
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.1471.htm
- Text hash
- sha256 63bf60136b44b1b508221add11529678645eccd15bf5ded3872f76cae952516c
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Gov't Code § 1471.083. Each shows the citation as that text prints it.
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.