Texas Education Code - Section 66.04. Validity Of Bonds Purchased By Board
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§ 66.04. VALIDITY OF BONDS PURCHASED BY BOARD. Whenever
the board has purchased the bonds of any city, county, or
municipality, approved by the attorney general, the certificate of
the attorney general attesting their validity shall be admitted and
received as prima facie evidence of the validity of the bonds; and
in all cases in which the proceeds of the sale of these bonds have
been received by the proper officers of the city, municipality, or
county, or by the party acting for them in negotiating the sale of
the bonds, the city, municipality, or county is thereafter estopped
from denying the validity of the bonds and they shall be held to be
valid and binding obligations. In the case of any bonds bought
under this section, premium or discount shall be distributed over
the life of the bonds.
Acts 1971, 62nd Leg., p. 3149, ch. 1024, art. 1, § 1, eff. Sept.
1, 1971.
Section: 65.41 65.42 65.43 65.45 65.46 66.01 66.02 66.04 66.05 66.06 66.07 66.08 66.09 66.21 66.22
Last modified: August 11, 2007
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