Tex. Gov't Code Section 1207.026
Use of Sale Proceeds to Make Deposit; Rights Not Dependent on Cancellation of Obligations to Be Refunded

(a)

An issuer may sell and deliver refunding bonds that have been registered with the comptroller so as to permit the issuer, in a timely manner determined by the issuer, to use proceeds from the sale to make all or any part of a deposit under this chapter.

(b)

An issuer that has complied with this chapter may issue, register, sell, or deliver a refunding bond in lieu of the obligation to be refunded regardless of whether:

(1)

the holder of the obligation to be refunded has surrendered or presented the obligation for payment and cancellation; or

(2)

the obligation to be refunded has been canceled.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

Source: Section 1207.026 — Use of Sale Proceeds to Make Deposit; Rights Not Dependent on Cancellation of Obligations to Be Refunded, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1207.htm#1207.026 (accessed Jun. 5, 2024).

1207.001
Definitions 1207.002
Authority to Issue 1207.003
Election 1207.004
Combination Issuance 1207.005
Sources Available for Payment 1207.006
Maturity 1207.007
Delegation of Authority 1207.008
Limitation 1207.021
Authority to Deposit with Comptroller 1207.022
Limitation 1207.023
Amount of Principal 1207.024
Methods and Terms of Sale 1207.025
Registration Before Deposit 1207.026
Use of Sale Proceeds to Make Deposit 1207.027
Comptroller to Accept and Keep Safe Deposits 1207.028
Comptroller to Send and Record Deposit or Payment 1207.029
Selection of Paying Agent 1207.030
Establishment and Use of Trust Fund 1207.031
Withdrawal of Deposit 1207.032
Comptroller Fees 1207.033
Discharge 1207.034
Right to Demand or Receive Early Payment 1207.035
Conflict or Inconsistency with Other Laws 1207.061
Authority to Deposit Directly 1207.062
Escrow Agreement 1207.063
Duty to Comply 1207.064
Incontestability of Certain Escrow Agreements and Contracts 1207.081
Issuance in Exchange for Obligation to Be Refunded 1207.082
Limitation on Authority to Partially Refund 1207.083
Other Powers of Issuer 1207.084
Conflict or Inconsistency with Other Laws 1207.0621
Sources Available for Payment

Accessed:
Jun. 5, 2024

§ 1207.026’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._gov't_code_section_1207.026

Original Source: Section 1207.026 — Use of Sale Proceeds to Make Deposit; Rights Not Dependent on Cancellation of Obligations to Be Refunded, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1207.htm#1207.026 (last accessed Jun. 5, 2024).