Tex. Water Code § 58.474 · Subchapter J. ISSUANCE OF BONDS
LIMITATIONS ON INTERIM BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Interim bonds shall mature not later than 10 years from the date they are issued, and shall be redeemable at any time before they mature, as provided in this subchapter.
(b) The principal amount of the interim bonds may not be more than 25 percent of the principal amount of the district's bonds which have been voted but not sold.
(c) Before the issuance of the interim bonds, the board, by resolution, may limit the issue to any amount less than 25 percent, and after the amount is determined and fixed by the resolution, no additional interim bonds may be issued and sold until all outstanding interim bonds are paid.
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 a128dd23283682d15b2bbe86faa8add07f2bb2230d83980ffee7d3dffd260652
- 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 § 58.474. Each shows the citation as that text prints it.
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