Tex. Water Code § 55.520 · Subchapter L. ISSUANCE OF BONDS
REFUNDING BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board of a district which has issued bonds under the provisions of this chapter, by resolution, may issue refunding bonds to replace the original bonds. The refunding bonds may be issued in any amount, in any denomination, and for any period of maturity and may bear any rate of interest provided in the board's resolution.
(b) The refunding bonds shall be issued subject to the limitations provided in this subchapter for the issuance of bonds.
(c) The refunding bonds may be exchanged for the original bonds at the original bonds' face value or at a discount, or the refunding bonds may be sold and the net proceeds applied to the purchase of the original bonds at face value or at a discount.
Notes and commentary — not statutory text
History
Acts 1971, 62nd Leg., p. 470, 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.55.htm
- Text hash
- sha256 0ccd7a97c05c955c3848b63d753a6e4bfaa0fc4e6d32cb62065946e78996a980
- 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.