Texas § GV.1505.080 - UNEXPENDED BALANCE
Full text of Texas The Texas Constitution § GV.1505.080 — UNEXPENDED BALANCE, with citation guidance and answers to common questions.
§ GV.1505.080. UNEXPENDED BALANCE
UNEXPENDED BALANCE. (a) Any proceeds of the sale of bonds issued under this subchapter that are unspent after completion of the project for which the bonds were issued: (1) shall be deposited to the credit of the bond and interest redemption fund for the bonds; and (2) may be used only to: (A) pay the principal of the bonds; or (B) purchase outstanding bonds of the issue from which the proceeds were derived. (b) A bond may not be purchased under Subsection (a)(2)(B) for a price that exceeds, excluding accrued interest, the face amount of the bond. (c) A bond purchased under Subsection (a)(2)(B) must be canceled and may not be reissued. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Frequently Asked Questions About Texas § GV.1505.080
What does The Texas Constitution § GV.1505.080 cover?
Section GV.1505.080 ("UNEXPENDED BALANCE") 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.1505.080?
A common citation format is "The Texas Constitution § GV.1505.080" (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.1505.080 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.