Tex. Water Code § 51.447 · Subchapter K. ISSUANCE OF BONDS
PROCEDURE FOR ISSUANCE AND SALE OF INTERIM BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Interim bonds shall be issued in the name of the district, signed by the president, and attested by the secretary, with the district seal attached to each bond.
(b) The interim bonds may be issued in the denominations determined by the board and shall be approved by the attorney general and registered by the comptroller in the same manner as provided in Section 51.417 of this code.
(c) Interim bonds may be sold in the same manner and on the same terms provided by law for the sale of other bonds of the district.
(d) If interim bonds are sold at less than par value and accrued interest, the improvement bonds issued by the district must be sold at an increase over the price authorized by law in an amount sufficient to equal the discount allowed on the interim bonds.
Notes and commentary — not statutory text
History
Acts 1971, 62nd Leg., p. 346, 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 e33ef200370a74204bdce83da7b874cd2111436ce43e9e43efd8b6bd1728300f
- 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.