Tex. Water Code § 58.450 · Subchapter J. ISSUANCE OF BONDS
FORM OF BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The bonds shall be issued in the name of the district and shall be signed by the president and attested by the secretary, with the seal of the district attached.
(b) The bonds shall be issued in denominations of $100 or multiples of $100 and shall be payable annually or semiannually.
(c) The board shall determine and include in the bonds the time, place, manner, and condition of payment of principal and interest on the bonds, but none of the bonds may be made payable more than 40 years from their date.
(d) The lien for payments due to the United States under a contract that was not accompanied by a deposit of bonds with the United States shall be a preferred lien to that of any issue of bonds of any series or any issue of bonds subsequent to the date of the contract.
Notes and commentary — not statutory text
History
Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/WA/htm/WA.58.htm
- Text hash
- sha256 c68eb43ccbbb665be30b44740180625a1790097cbe6a47f81185dfbccd7ac5ee
- 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.