Texas § GV.1207.026 - USE OF SALE PROCEEDS TO MAKE DEPOSIT
Full text of Texas The Texas Constitution § GV.1207.026 — USE OF SALE PROCEEDS TO MAKE DEPOSIT, with citation guidance and answers to common questions.
§ GV.1207.026. USE OF SALE PROCEEDS TO MAKE DEPOSIT
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 manner determined by the issuer, to use proceeds from the sale to make all or any part of a deposit under this chapter. (b) An issuer that has complied with this chapter may issue, register, sell, or deliver a refunding bond in lieu of the obligation to be refunded regardless of whether: (1) the holder of the obligation to be refunded has surrendered or presented the obligation for payment and cancellation; or (2) the obligation to be refunded has been canceled. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.1207.026
What does The Texas Constitution § GV.1207.026 cover?
Section GV.1207.026 ("USE OF SALE PROCEEDS TO MAKE DEPOSIT") 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.1207.026?
A common citation format is "The Texas Constitution § GV.1207.026" (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.1207.026 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.