Texas § 232.0045 FINANCIAL GUARANTEE IN LIEU OF BOND.

Texas Statutes

§ 232.0045 — FINANCIAL GUARANTEE IN LIEU OF BOND.

Texas § 232.0045

Code LGLocal Government Code

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Bluebook

Tex. Local Government Code Code Ann. § 232.0045 (2026).

Text

Sec. 232.0045. FINANCIAL GUARANTEE IN LIEU OF BOND.

(a)In lieu of the bond an owner may deposit cash, a letter of credit issued by a federally insured financial institution, or other acceptable financial guarantee.

(b)If a letter of credit is used, it must:

(1)list as the sole beneficiary the county judge of the county in which the subdivision is located; and

(2)be conditioned that the owner of the tract of land to be subdivided will construct any roads or streets in the subdivision:

(A)in accordance with the specifications adopted by the commissioners court; and

(B)within a reasonable time set by the court.

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Sec. 232.0045. FINANCIAL GUARANTEE IN LIEU OF BOND. (a) In lieu of the bond an owner may deposit cash, a letter of credit issued by a federally insured financial institution, or other acceptable financial guarantee.
(b) If a letter of credit is used, it must:
(1) list as the sole beneficiary the county judge of the county in which the subdivision is located; and
(2) be conditioned that the owner of the tract of land to be subdivided will construct any roads or streets in the subdivision:
(A) in accordance with the specifications adopted by the commissioners court; and
(B) within a reasonable time set by the court.