Tex. Nat. Res. Code § 162.051 · Subchapter C. BONDS
PURCHASE AND DESTRUCTION OF BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board may use money in the fund to purchase on the open market any bonds it has issued and sold to provide money for the fund, and the debt represented by those bonds when purchased is considered canceled.
(b) Bonds purchased by the board under Subsection (a) of this section shall be mutilated, burned, or otherwise destroyed by the comptroller, who shall certify this fact to the board under the seal of office.
(c) Interest may not be paid on those bonds after their purchase by the board.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 242, Sec. 2.16, eff. Aug. 30, 1993. Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 14.22, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/NR/htm/NR.162.htm
- Text hash
- sha256 69a336939fafa419eb1541b05acfb9390966d7201ee0437c25a236995e73d6ea
- 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.