Sec. 58.810. USE BY TRUSTEE OF ADVANCE PAYMENTS OF TAX. The order issuing the bonds shall provide that the bonds shall be called and redeemed by the trustee in the inverse order of their maturity and in the inverse order of their serial numbers. They shall be paid out of any funds received in advance payment of taxes that are not required for meeting any past-due and unpaid principal and interest or the next maturing installment of principal and interest.
Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.Section: Previous 58.803 58.804 58.805 58.806 58.807 58.808 58.809 58.810 58.811 58.812 58.814 58.815 58.816 58.817 58.818 Next
Last modified: September 28, 2016