Texas § 6902.253 REGISTRATION OF REFUNDING BONDS BY COMPTROLLER.

Texas Statutes

§ 6902.253 — REGISTRATION OF REFUNDING BONDS BY COMPTROLLER.

Texas § 6902.253

Code SDSpecial District Local Laws Code

This text of Texas § 6902.253 (REGISTRATION OF REFUNDING BONDS BY 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. Special District Local Laws Code Code Ann. § 6902.253 (2026).

Text

Sec. 6902.253. REGISTRATION OF REFUNDING BONDS BY COMPTROLLER.

(a)The comptroller shall register the refunding bonds on the surrender and cancellation of the bonds to be refunded.

(b)Instead of issuing bonds to be registered on the surrender and cancellation of the bonds to be refunded, the district, in the resolution authorizing the issuance of the refunding bonds, may provide for the sale of the refunding bonds and the deposit of the proceeds, together with other money that may be available, in a bank at which the bonds to be refunded are payable. In that case, the refunding bonds may be issued in an amount sufficient to pay the principal of and interest and any required redemption premium on the bonds to be refunded to any redemption date or to their maturity date, and the comptroller

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Sec. 6902.253. REGISTRATION OF REFUNDING BONDS BY COMPTROLLER. (a) The comptroller shall register the refunding bonds on the surrender and cancellation of the bonds to be refunded.
(b) Instead of issuing bonds to be registered on the surrender and cancellation of the bonds to be refunded, the district, in the resolution authorizing the issuance of the refunding bonds, may provide for the sale of the refunding bonds and the deposit of the proceeds, together with other money that may be available, in a bank at which the bonds to be refunded are payable. In that case, the refunding bonds may be issued in an amount sufficient to pay the principal of and interest and any required redemption premium on the bonds to be refunded to any redemption date or to their maturity date, and the comptroller shall register the refunding bonds without the surrender and cancellation of the bonds to be refunded.
(c) The provisions described by Subsection (b) constitute the making of firm banking arrangements for the discharge and final payment or redemption of the bonds to be refunded or to be paid or redeemed.