Tex. Water Code § 51.436 · Subchapter K. ISSUANCE OF BONDS
INTEREST AND SINKING FUND.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The district shall have an interest and sinking fund which shall include all taxes collected under this chapter.
(b) Money in the interest and sinking fund may be used only:
(1) to pay principal and interest on the bonds;
(2) to defray the expenses of assessing and collecting the taxes; and
(3) to pay principal and interest due under a contract with the United States if bonds have not been deposited with the United States.
(c) Money in the fund shall be paid out of the fund on warrants by order of the board as provided in this chapter.
(d) The depository shall receive and cancel each interest coupon and bond as it is paid and shall deliver it to the board to be recorded, cancelled, and destroyed.
Notes and commentary — not statutory text
History
Acts 1971, 62nd Leg., p. 343, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/WA/htm/WA.51.htm
- Text hash
- sha256 0f96e0821017cc8bcc4665c1f85034ad492308f5d3c469e4538822fecf7edea3
- 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. Water Code § 51.436. Each shows the citation as that text prints it.
Special District Local Laws Code
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