Tex.
Gov't Code Section 1431.009
Maturity
(a)
Except as provided by Subsection (b) or (e), an anticipation note issued for a purpose described by Section 1431.004 (Uses of Anticipation Note Proceeds)(a)(1) or (b)(2) must mature before the seventh anniversary of the date that the attorney general approves the note.(b)
An anticipation note issued by a county with a population of three million or more, an eligible countywide district, or an eligible school district for a purpose described by Section 1431.004 (Uses of Anticipation Note Proceeds)(a)(1) or (b)(2) must mature before the 15th anniversary of the date that the attorney general approves the note.(c)
Except as provided by Subsection (e), an anticipation note issued for a purpose described by Section 1431.004 (Uses of Anticipation Note Proceeds)(a)(2) or (3) must mature before the first anniversary of the date that the attorney general approves the note.(d)
A bond issued under Chapter 1207 (Refunding Bonds) to refund an anticipation note issued by a county, municipality, or eligible countywide district for a purpose described by Section 1431.004 (Uses of Anticipation Note Proceeds)(a)(1) or by an eligible school district for a purpose described by Section 1431.004 (Uses of Anticipation Note Proceeds)(a)(1)(C) or (b)(2) is subject to the limitation on maturity provided by Section 1207.006 (Maturity) and not the limitation provided by Subsection (a).(e)
An anticipation note or other obligation issued under Section 1431.015 (Certain Notes or Other Obligations for Emergency Financing) for any authorized purpose must mature before the 10th anniversary of the date the attorney general approves the note or other obligation.
Source:
Section 1431.009 — Maturity, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1431.htm#1431.009 (accessed Apr. 29, 2024).
