Texas § 1207.021 AUTHORITY TO DEPOSIT WITH COMPTROLLER.

Texas Statutes

§ 1207.021 — AUTHORITY TO DEPOSIT WITH COMPTROLLER.

Texas § 1207.021

Code GVGovernment Code

This text of Texas § 1207.021 (AUTHORITY TO DEPOSIT WITH COMPTROLLER.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 1207.021 (2026).

Text

Sec. 1207.021. AUTHORITY TO DEPOSIT WITH COMPTROLLER.

(a)An issuer is entitled to deposit with the comptroller an amount of money equal to the sum of:

(1)the principal amount of the bonds, notes, or other obligations to be refunded;

(2)the interest that will accrue on those bonds, notes, or other obligations computed to the due date or redemption date; and

(3)any required redemption premium.

(b)At the time a deposit is made under Subsection (a), the issuer shall deliver to the comptroller a certified copy of the proceedings that authorize the issuance of the obligations to be refunded, or a certified excerpt from those proceedings, that clearly shows:

(1)each amount of interest and the date on which that amount of interest is due on the obligations to be refunded;

(2)the date the pr

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Sec. 1207.021. AUTHORITY TO DEPOSIT WITH COMPTROLLER. (a) An issuer is entitled to deposit with the comptroller an amount of money equal to the sum of:
(1) the principal amount of the bonds, notes, or other obligations to be refunded;
(2) the interest that will accrue on those bonds, notes, or other obligations computed to the due date or redemption date; and
(3) any required redemption premium.
(b) At the time a deposit is made under Subsection (a), the issuer shall deliver to the comptroller a certified copy of the proceedings that authorize the issuance of the obligations to be refunded, or a certified excerpt from those proceedings, that clearly shows:
(1) each amount of interest and the date on which that amount of interest is due on the obligations to be refunded;
(2) the date the principal is subject to redemption; and
(3) the name and address of the paying agent.
(c) The comptroller may rely on a certificate by the issuer as to the amount of the charges made by the paying agent.