Tex. Transp. Code § 54.155 · Subchapter D. REFUNDING OBLIGATIONS
REGISTRATION OF REFUNDING OBLIGATIONS BY COMPTROLLER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Except as provided by Subsection (b), the comptroller shall register refunding obligations on surrender and cancellation of the obligations to be refunded.
(b) The comptroller shall register refunding obligations without the surrender and cancellation of the obligations to be refunded if the ordinance or resolution authorizing the issuance of the refunding obligations requires that:
(1) the obligations be sold at public or private sale; and
(2) the proceeds from the sale be deposited:
(A) in a place where the underlying obligations are payable; or
(B) with the comptroller.
(c) Refunding obligations to which Subsection (b) applies may be issued in an amount sufficient to pay the principal of and interest on the obligations to be refunded to the option or maturity date of the obligations.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 20, 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/TN/htm/TN.54.htm
- Text hash
- sha256 7d395a95344c8dfa9b24a2514fef6540019b8b611cfcefa1405885e4f01685e9
- 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. Transp. Code § 54.155. Each shows the citation as that text prints it.
Transportation Code
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