Texas § NR.162.051 - PURCHASE AND DESTRUCTION OF BONDS
Full text of Texas The Texas Constitution § NR.162.051 — PURCHASE AND DESTRUCTION OF BONDS, with citation guidance and answers to common questions.
§ NR.162.051. PURCHASE AND DESTRUCTION OF BONDS
PURCHASE AND DESTRUCTION OF BONDS. (a) The board may use money in the fund to purchase on the open market any bonds it has issued and sold to provide money for the fund, and the debt represented by those bonds when purchased is considered canceled. (b) Bonds purchased by the board under Subsection (a) of this section shall be mutilated, burned, or otherwise destroyed by the comptroller, who shall certify this fact to the board under the seal of office. (c) Interest may not be paid on those bonds after their purchase by the board. Added by Acts 1993, 73rd Leg., ch. 242, Sec. 2.16, eff. Aug. 30, 1993. Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 14.22, eff. Sept. 1, 1997.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § NR.162.051
What does The Texas Constitution § NR.162.051 cover?
Section NR.162.051 ("PURCHASE AND DESTRUCTION OF BONDS") 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 § NR.162.051?
A common citation format is "The Texas Constitution § NR.162.051" (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 § NR.162.051 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.