Tex. Spec. Dist. Local Laws Code § 9305.0506 · Subchapter E. BONDS
REFUNDING BONDS.
Not yet in force
Text of section effective on April 01, 2027
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The district without an election may issue refunding bonds for the purpose of refunding outstanding bonds authorized by this chapter and the interest on those bonds.
(b) Refunding bonds the district issues may be issued to refund bonds of more than one series of outstanding bonds.
(c) The provisions of this chapter regarding the issuance of other bonds and the remedies of the holders apply to refunding bonds.
(d) The comptroller shall register the refunding bonds on surrender and cancellation of the bonds to be refunded.
(e) Instead of issuing bonds to be registered on the surrender and cancellation of the bonds to be refunded, the district, in the resolution authorizing the issuance of the refunding bonds, may provide for the sale of the refunding bonds and the deposit of the proceeds in a bank at which the bonds to be refunded are payable. In that case, the refunding bonds may be issued in an amount sufficient to pay the principal of and interest on the bonds to be refunded to their option date or maturity date, and the comptroller shall register the refunding bonds without the concurrent surrender and cancellation of the bonds to be refunded.
Notes and commentary — not statutory text
History
Added by Acts 2025, 89th Leg., R.S., Ch. 203 (H.B. 1615), Sec. 1.04, eff. April 1, 2027.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.9305.htm
- Text hash
- sha256 61671b882594d0ad4c0ec716accf40497fd0f7f2a3d649cd94e08457c8623b7d
- 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.