Texas § GV.1207.021 - AUTHORITY TO DEPOSIT WITH COMPTROLLER
Full text of Texas The Texas Constitution § GV.1207.021 — AUTHORITY TO DEPOSIT WITH COMPTROLLER, with citation guidance and answers to common questions.
§ GV.1207.021. AUTHORITY TO DEPOSIT WITH COMPTROLLER
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 bonds, notes, or other obligations to be refunded; (2) the interest that will accrue on those bonds, notes, or other obligations computed to the due date or redemption date; and (3) any required redemption premium. (b) At the time a deposit is made under Subsection (a), the issuer shall deliver to the comptroller a certified copy of the proceedings that authorize the issuance of the obligations to be refunded, or a certified excerpt from those proceedings, that clearly shows: (1) each amount of interest and the date on which that amount of interest is due on the obligations to be refunded; (2) the date the principal is subject to redemption; and (3) the name and address of the paying agent. (c) The comptroller may rely on a certificate by the issuer as to the amount of the charges made by the paying agent. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Frequently Asked Questions About Texas § GV.1207.021
What does The Texas Constitution § GV.1207.021 cover?
Section GV.1207.021 ("AUTHORITY TO DEPOSIT WITH COMPTROLLER") 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 § GV.1207.021?
A common citation format is "The Texas Constitution § GV.1207.021" (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 § GV.1207.021 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.