Texas Government Code Title 9, Chapter 1207 - Refunding Bonds

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 1207.001 - Definitions
  In this chapter: (1) "Issuer" means this state or any department, board, authority, agency, subdivision, municipal corporation, district, public corporation, body politic, or instrumentality of...
• Texas Section 1207.002 - Authority To Issue
  An issuer may issue refunding bonds under this chapter to refund all or any part of the issuer's outstanding bonds, notes, or other general or...
• Texas Section 1207.003 - Election
  (a) Refunding bonds may be issued without an election in connection with the issuance of the refunding bonds or the creation of an encumbrance in...
• Texas Section 1207.004 - Combination Issuance
  Under the terms and with the security set forth in the proceedings that authorize the issuance of the refunding bonds, a governmental entity may issue...
• Texas Section 1207.005 - Sources Available For Payment
  Except as provided by Section 1207.0621, a refunding bond may be secured by and made payable from taxes, revenue, or both, another source, or a...
• Texas Section 1207.006 - Maturity
  A refunding bond issued under this chapter must mature not later than 40 years after its date. Added by Acts 1999, 76th Leg., ch. 227,...
• Texas Section 1207.007 - Delegation Of Authority
  (a) In connection with the issuance of refunding bonds, the governing body of an issuer may: (1) authorize the maximum principal amount of refunding bonds...

SUBCHAPTER B ADVANCE REFUNDING PROCEDURES

• Texas Section 1207.008 - Limitation
  (a) An issuer may not issue refunding bonds if the aggregate amount of payments to be made under the refunding bonds exceeds the aggregate amount...
• Texas Section 1207.021 - Authority To Deposit With Comptroller
  (a) An issuer is entitled to deposit with the comptroller an amount of money equal to the sum of: (1) the principal amount of the...
• Texas Section 1207.022 - Limitation
  An issuer may issue refunding bonds to make a deposit under this subchapter or Subchapter C only in connection with refunding bonds issued to refund...
• Texas Section 1207.023 - Amount Of Principal
  Refunding bonds for which a deposit is made under this subchapter or Subchapter C may be issued in an additional amount sufficient to: (1) pay...
• Texas Section 1207.024 - Methods And Terms Of Sale
  (a) Refunding bonds issued to make a deposit under this subchapter or Subchapter C shall be sold for cash in a principal amount necessary to...
• Texas Section 1207.025 - Registration Before Deposit; Registration Without Cancellation Of Obligations To Be Refunded
  (a) The comptroller may register refunding bonds as provided by Chapter 1202 before a deposit required by this subchapter or Subchapter C is made. (b)...
• Texas Section 1207.026 - Use Of Sale Proceeds To Make Deposit; Rights Not Dependent On Cancellation Of Obligations To Be Refunded
  (a) An issuer may sell and deliver refunding bonds that have been registered with the comptroller so as to permit the issuer, in a timely...
• Texas Section 1207.027 - Comptroller To Accept And Keep Safe Deposits
  (a) The comptroller shall: (1) accept each deposit, payment, or instrument received under this subchapter; and (2) safely keep and use the money only for...
• Texas Section 1207.028 - Comptroller To Send And Record Deposit Or Payment
  (a) After receipt of a deposit or payment under this subchapter, the comptroller shall immediately and by the most expeditious means send to the paying...
• Texas Section 1207.029 - Selection Of Paying Agent
  If there is more than one paying agent for an obligation being refunded, the comptroller shall send the money directly to: (1) the paying agent...
• Texas Section 1207.030 - Establishment And Use Of Trust Fund
  (a) The paying agent shall deposit the money received from the comptroller, except that amount representing the charges of the paying agent, in an interest...
• Texas Section 1207.031 - Withdrawal Of Deposit
  (a) An issuer that has made the deposit and payments required by this subchapter may apply to the comptroller to withdraw from the paying agent...
• Texas Section 1207.032 - Comptroller Fees
  The comptroller may charge a reasonable fee for a service performed under this subchapter. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff....
• Texas Section 1207.033 - Discharge
  (a) A deposit of money made under this chapter is considered to be the making of firm banking and financial arrangements for the discharge and...
• Texas Section 1207.034 - Right To Demand Or Receive Early Payment
  The holder of an obligation to be refunded by refunding bonds may not demand or receive payment of the obligation to be refunded before its...

SUBCHAPTER C DIRECT DEPOSIT WITH PAYING AGENT

• Texas Section 1207.035 - Conflict Or Inconsistency With Other Laws
  To the extent of a conflict or inconsistency between this subchapter and another law, this subchapter controls. Added by Acts 1999, 76th Leg., ch. 227,...
• Texas Section 1207.061 - Authority To Deposit Directly
  (a) An issuer may, in lieu of making a deposit with the comptroller under Subchapter B, deposit an amount of money sufficient to provide for...
• Texas Section 1207.062 - Escrow Agreement
  (a) An issuer may enter into an escrow or similar agreement with a person described by Section 1207.061(a) with respect to the safekeeping, investment, administration,...
• Texas Section 1207.0621 - Sources Available For Payment
  An issuer may pledge to the payment of a refunding bond issued to make a deposit under this subchapter: (1) any surplus income to be...
• Texas Section 1207.063 - Duty To Comply
  A person described by Section 1201.061(a) that enters into an agreement under Section 1207.062 shall comply with each term of that agreement and, from the...

SUBCHAPTER D EXCHANGE REFUNDING PROCEDURES

• Texas Section 1207.064 - Incontestability Of Certain Escrow Agreements And Contracts
  After the registration of a refunding bond and the sale and delivery of the bond to the purchaser, the proceedings that authorize the refunding bond,...
• Texas Section 1207.081 - Issuance In Exchange For Obligation To Be Refunded; Limitation
  (a) Refunding bonds may be issued to be exchanged under this subchapter for, and on the surrender and cancellation of, the obligations to be refunded....
• Texas Section 1207.082 - Limitation On Authority To Partially Refund
  An issuer may issue refunding bonds to be exchanged under this subchapter to refund part of an outstanding issue of bonds, notes, or other obligations...
• Texas Section 1207.083 - Other Powers Of Issuer
  To the extent necessary or convenient in carrying out a power under this subchapter, an issuer may use the provisions of any other law that...
• Texas Section 1207.084 - Conflict Or Inconsistency With Other Laws
  When bonds are being issued to be exchanged under this subchapter, to the extent of a conflict or inconsistency between this subchapter and another law,...

Last modified: September 28, 2016