Texas § 57.2131 ALTERNATIVE METHODS OF ISSUING REFUNDING BONDS.

Texas Statutes

§ 57.2131 — ALTERNATIVE METHODS OF ISSUING REFUNDING BONDS.

Texas § 57.2131

Code WAWater Code

This text of Texas § 57.2131 (ALTERNATIVE METHODS OF ISSUING REFUNDING BONDS.) 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. Water Code Code Ann. § 57.2131 (2026).

Text

Sec. 57.2131. ALTERNATIVE METHODS OF ISSUING REFUNDING BONDS.

(a)A district may issue refunding bonds as provided for in this section, notwithstanding Section 57.213 of this code.

(b)A district may issue bonds to refund all or any part of its outstanding bonds, notes, or other obligations including matured but unpaid interest.

(c)Refunding bonds shall mature serially or otherwise not more than 40 years from their date and shall bear interest at any rate or rates permitted by the constitution and laws of the state.

(d)Refunding bonds may be made payable from the same source as the bonds, notes, or other obligations being refunded or from other additional source or sources.

(e)The refunding bonds must be approved by the attorney general in the manner provided by law for other bonds of t

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

Sec. 57.2131. ALTERNATIVE METHODS OF ISSUING REFUNDING BONDS. (a) A district may issue refunding bonds as provided for in this section, notwithstanding Section 57.213 of this code.
(b) A district may issue bonds to refund all or any part of its outstanding bonds, notes, or other obligations including matured but unpaid interest.
(c) Refunding bonds shall mature serially or otherwise not more than 40 years from their date and shall bear interest at any rate or rates permitted by the constitution and laws of the state.
(d) Refunding bonds may be made payable from the same source as the bonds, notes, or other obligations being refunded or from other additional source or sources.
(e) The refunding bonds must be approved by the attorney general in the manner provided by law for other bonds of the district and shall be registered by the comptroller on the surrender and cancellation of the bonds being refunded.
(f) The orders or resolutions authorizing the issuance of the refunding bonds may provide that the refunding bonds will be sold and the proceeds deposited in the place or places at which the bonds being refunded are payable, in which case the refunding bonds may be issued before the cancellation of the bonds being refunded. If refunding bonds are issued before cancellation of the other bonds, an amount which, when added to the earnings and profits from the investment of such amount, is sufficient to pay the interest on and principal of the bonds being refunded to their maturity dates, or to their option dates if the bonds have been duly called for payment prior to maturity according to their terms, shall be deposited in the place or places at which the bonds being refunded are payable.
(g) If the district issues refunding bonds in accordance with Subsection (f) of this section, the comptroller shall register refunding bonds without the surrender and cancellation of bonds being refunded.
(h) A refunding may be accomplished in one or in several installment deliveries.
(i) Refunding bonds are investment securities under Chapter 8 , Business & Commerce Code.
(j) In lieu of the methods provided in this section and in Section 51.213 of this code, a district may refund bonds, notes, or other obligations as provided by the general law of the state.