Tex. Gov't Code § 2306.451 · Subchapter U. HOUSING FINANCE DIVISION BONDS: RIGHTS AND REMEDIES OF BONDHOLDERS AND PARTIES IN INTEREST
STATE PLEDGE REGARDING BONDHOLDER RIGHTS AND REMEDIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The state pledges to and agrees with the holders of bonds issued under this chapter that it will not limit or alter the rights vested in the department under this chapter to fulfill the terms of an agreement made with a bondholder or impair the rights and remedies of a bondholder until the following obligations are fully discharged:
(1) the bonds;
(2) interest on the bonds;
(3) interest on any unpaid installment of interest; and
(4) all costs and expenses related to an action or proceeding by or on behalf of the holders.
(b) The department may include the state's pledge and agreement under Subsection (a) in an agreement with the holders of the department's bonds.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2306.htm
- Text hash
- sha256 e97fcff20250361ecb89b5ce264d4157a112bb96282e67e1e7c3d0c957746f96
- 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.