Texas § 1501.208 INTEREST AND SINKING FUND OF DISTRICT.

Texas Statutes

§ 1501.208 — INTEREST AND SINKING FUND OF DISTRICT.

Texas § 1501.208

Code GVGovernment Code

This text of Texas § 1501.208 (INTEREST AND SINKING FUND OF DISTRICT.) 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. § 1501.208 (2026).

Text

Sec. 1501.208. INTEREST AND SINKING FUND OF DISTRICT.

(a)The interest and sinking fund of a district must be permanently maintained in the bank where bonds of the district are payable.

(b)A district to which money is paid under Section 1501.207 shall promptly deposit that money, as well as other applicable money and investments of the district, to the credit of the interest and sinking fund of the district.

(c)A bank of payment that receives a deposit of money or an investment shall hold that money or investment in trust for the benefit of the holders of outstanding bonds of the district.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 1501.208. INTEREST AND SINKING FUND OF DISTRICT. (a) The interest and sinking fund of a district must be permanently maintained in the bank where bonds of the district are payable.
(b) A district to which money is paid under Section 1501.207 shall promptly deposit that money, as well as other applicable money and investments of the district, to the credit of the interest and sinking fund of the district.
(c) A bank of payment that receives a deposit of money or an investment shall hold that money or investment in trust for the benefit of the holders of outstanding bonds of the district.