Texas § WA.17.079 - TRANSFERS TO INTEREST AND SINKING FUND
Full text of Texas The Texas Constitution § WA.17.079 — TRANSFERS TO INTEREST AND SINKING FUND, with citation guidance and answers to common questions.
§ WA.17.079. TRANSFERS TO INTEREST AND SINKING FUND
TRANSFERS TO INTEREST AND SINKING FUND. (a) The board shall determine: (1) the amount of interest coming due on all bonds outstanding, except for those dedicated pursuant to Section 17.0111 of this code; (2) the amount of principal of bonds maturing and becoming payable during the fiscal year, except for those bonds dedicated pursuant to Section 17.0111 of this code; and (3) the average annual principal and interest requirements on all outstanding bonds, except for those bonds dedicated pursuant to Section 17.0111 of this code. (b) The comptroller shall transfer to the interest and sinking fund, after taking into account any money and securities on deposit in the interest and sinking fund, an amount necessary to pay: (1) all principal and interest maturing on the bonds, except for those bonds dedicated pursuant to Section 17.0111 of this code, during the fiscal year; (2) all collection charges and exchanges on the bonds in Subsection (b)(1) of this section; and (3) the money sufficient to establish and maintain an additional reserve equal to the average annual principal and interest requirements on all outstanding bonds, except for those bonds dedicated pursuant to Section 17.0111 of this code. Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977; Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987; Acts 1989, 71st Leg., ch. 624, Sec. 2.17.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § WA.17.079
What does The Texas Constitution § WA.17.079 cover?
Section WA.17.079 ("TRANSFERS TO INTEREST AND SINKING FUND") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § WA.17.079?
A common citation format is "The Texas Constitution § WA.17.079" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § WA.17.079 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.