Texas Parks And Wildlife Code Title 3, Chapter 21 - Texas Park Development Fund
SUBCHAPTER A TEXAS PARK DEVELOPMENT BONDS
- Texas Section 21.001 - Issuance Of Park Development Bonds
The department, by resolution of the commission, from time to time may provide for the issuance of negotiable bonds in an aggregate amount not to...
- Texas Section 21.002 - Description Of Bonds
The bonds are called State of Texas Park Development Bonds and shall be issued on a parity. The department may issue them in one or...
- Texas Section 21.003 - Sale Price
The department may not sell an installment or series of bonds for an amount less than the face value of all of the bonds comprising...
- Texas Section 21.004 - Interest Rate
The department shall determine the rate of interest of an installment or series of bonds and shall determine whether interest is payable annually or semiannually....
- Texas Section 21.005 - Form, Denomination, Place Of Payment
The department shall determine: (1) the form of the bonds, including the form of any interest coupons to be attached; (2) the denominations of the...
- Texas Section 21.006 - Maturity
The bonds of each issue mature, serially or otherwise, not more than 40 years from their date. Acts 1975, 64th Leg., p. 1405, ch. 545,...
- Texas Section 21.007 - Redemption Before Maturity
In the resolution providing for the issuance of bonds, the department may determine the price, terms, and conditions for redemption of bonds before maturity. Acts...
- Texas Section 21.008 - Registered And Bearer Bonds
The resolution may provide for the registration of bonds as to ownership, successive conversion and reconversion from bearer to registered bonds, and successive conversion and...
- Texas Section 21.009 - Notice Of Bond Sale
(a) After determining to sell a series of bonds, the department shall publish notice of the sale at least one time not less than 10...
- Texas Section 21.010 - Competitive Bids
The bonds shall be sold only after competitive bidding to the highest and best bidder. The department may reject any or all bids. Acts 1975,...
- Texas Section 21.011 - Security For Bids
The department shall require every bidder, except administrators of state funds, to include with their bid an exchange or cashier's check for an amount the...
- Texas Section 21.012 - Approval Of Bonds; Registration
Before delivering bonds to the purchasers, the department shall submit the bonds and the records pertaining to them for approval by the attorney general. When...
- Texas Section 21.013 - Execution Of Bonds
(a) The bonds shall be executed on behalf of the department as general obligations of the state as provided in this section. (b) The bonds...
- Texas Section 21.014 - Facsimile Signatures And Seals
In the resolution authorizing the issuance of an installment or series of bonds, the commission may prescribe the extent to which facsimile signatures and facsimile...
- Texas Section 21.015 - Signature Of Former Officer
If an officer whose signature or facsimile signature appears on a bond or whose facsimile signature appears on a coupon ceases to be an officer...
- Texas Section 21.016 - Bonds Incontestable, Valid, And Binding
(a) After approval by the attorney general, registration by the comptroller, and delivery to the purchaser, the bonds are incontestable and constitute general obligations of...
- Texas Section 21.017 - Evidence Of Validity
In an action to enforce collection of the bonds or rights incident to the bonds, the certificate of approval by the attorney general and a...
- Texas Section 21.018 - Payment By Comptroller
The comptroller shall pay or cause to be paid the principal on bonds as they mature and the interest as it becomes payable. Acts 1975,...
- Texas Section 21.019 - Duties Enforceable
The performance of the official duties of the comptroller may be enforced by mandamus or other appropriate proceeding. Acts 1975, 64th Leg., p. 1405, ch....
- Texas Section 21.020 - Refunding Bonds
The commission may provide by resolution for the issuance of refunding bonds. The department may sell these bonds and use the proceeds to retire the...
- Texas Section 21.021 - Bonds Negotiable Instruments
The bonds issued under the provisions of this chapter are negotiable instruments under the laws of this state. Acts 1975, 64th Leg., p. 1405, ch....
- Texas Section 21.022 - Bonds Not Taxable
Bonds issued under this chapter, income from the bonds, and profit made on their sale are free from taxation within this state. Acts 1975, 64th...
- Texas Section 21.023 - Authorized Investments
Bonds issued under this chapter are legal and authorized investments for: (1) banks; (2) savings banks; (3) trust companies; (4) building and loan and savings...
- Texas Section 21.024 - Security For Deposit Of Funds
Bonds issued under this chapter, when accompanied by all appurtenant unmatured coupons, are lawful and sufficient security for all deposits of funds of the state...
SUBCHAPTER B FUNDING PROVISIONS
- Texas Section 21.025 - Mutilated, Lost, Or Destroyed Bonds
The department may provide for the replacement of a mutilated, lost, or destroyed bond. Acts 1975, 64th Leg., p. 1405, ch. 545, Sec. 1, eff....
- Texas Section 21.101 - Texas Park Development Fund
(a) The Texas Park Development Fund, referred to as the "development fund," is created pursuant to the provisions of Article III, Section 49-e, of the...
- Texas Section 21.102 - Use Of Development Fund
The department may use the development fund only for: (1) acquiring state park sites from the United States or any of its agencies, agencies of...
- Texas Section 21.103 - Acquiring Park Sites
(a) Except as provided in Subsection (b) of this section, the department may acquire park sites, including property already devoted to public use, by purchase,...
- Texas Section 21.104 - Contracts Authorized
The department may contract with any state or federal agency or with any other person to accomplish the functions prescribed by Subdivisions (1) and (2)...
- Texas Section 21.105 - Interest And Sinking Fund
The Texas park development bonds interest and sinking fund, referred to as the "interest and sinking fund," is created to be used exclusively for: (1)...
- Texas Section 21.106 - Credits To Interest And Sinking Fund
(a) Accrued interest received in the sale of bonds, net income received from entrance or gate fees to state park sites, and income from investments...
- Texas Section 21.1061 - Report To Bond Review Board
The commission shall file with the Bond Review Board a report on the performance of the interest and sinking fund and the development fund. The...
- Texas Section 21.107 - Additional Transfers
(a) If the amount credited to the sinking and interest fund at the end of the fiscal year is insufficient to pay the interest coming...
- Texas Section 21.108 - Interest And Sinking Fund: Final Transfer
After all bonds have been paid, the balance of the interest and sinking fund shall be transferred to the state parks account. Acts 1975, 64th...
- Texas Section 21.109 - Transfers Required
The state comptroller shall make any transfer required by this chapter. Acts 1975, 64th Leg., p. 1405, ch. 545, Sec. 1, eff. Sept. 1, 1975.
- Texas Section 21.110 - Investment Of Funds
(a) The department may invest the development fund and, in making the investments, is governed by the provisions of Chapter 401, Acts of the 60th...
- Texas Section 21.111 - Entry Fees To Parks
(a) The department, wherever feasible may charge and collect an entrance fee to state park sites. (b) Income derived from the fees required by this...
Last modified: September 28, 2016