Texas § 17.886 PAYMENT AND TRANSFERS BY COMPTROLLER.

Texas Statutes

§ 17.886 — PAYMENT AND TRANSFERS BY COMPTROLLER.

Texas § 17.886

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Bluebook

Tex. Water Code Code Ann. § 17.886 (2026).

Text

Sec. 17.886. PAYMENT AND TRANSFERS BY COMPTROLLER.

(a)The comptroller shall pay the principal of the bonds as they mature and the interest on the bonds as it becomes due.

(b)If the money and securities in the interest and sinking fund are insufficient to pay the interest that is due and the principal maturing on the bonds during the fiscal year, the comptroller shall transfer out of the first money coming into the treasury, not otherwise appropriated by the constitution, the amount required to pay principal of and interest on the bonds during the fiscal year.

(c)The comptroller shall make the transfers required by the board's bond resolution or order and this subchapter.

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Sec. 17.886. PAYMENT AND TRANSFERS BY COMPTROLLER. (a) The comptroller shall pay the principal of the bonds as they mature and the interest on the bonds as it becomes due.
(b) If the money and securities in the interest and sinking fund are insufficient to pay the interest that is due and the principal maturing on the bonds during the fiscal year, the comptroller shall transfer out of the first money coming into the treasury, not otherwise appropriated by the constitution, the amount required to pay principal of and interest on the bonds during the fiscal year.
(c) The comptroller shall make the transfers required by the board's bond resolution or order and this subchapter.