Tex. Spec. Dist. Local Laws Code § 1039.205 · Subchapter E. BONDS
REFUNDING BONDS.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board may, without an election, issue refunding bonds payable from taxes or revenue to refund outstanding indebtedness issued, incurred, or assumed by the district.
(b) A refunding bond may be:
(1) sold, with the proceeds of the refunding bonds applied to the payment of the indebtedness to be refunded; or
(2) exchanged wholly or partly for not less than the principal amount of outstanding indebtedness.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.1039.htm
- Text hash
- sha256 773651c683816abb39dae6cbabfa6bec34e9a73579acea405a0853673f1a5122
- 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.