Texas § SD.6902.254 - ESCROW AGREEMENT
Full text of Texas The Texas Constitution § SD.6902.254 — ESCROW AGREEMENT, with citation guidance and answers to common questions.
§ SD.6902.254. ESCROW AGREEMENT
ESCROW AGREEMENT. (a) The district may enter into an escrow or similar agreement with any place of payment, paying agent, or trustee with respect to the safekeeping, investment, administration, and disposition of a deposit made under Section 6902.253 (b). (b) A deposit under Section 6902.253 (b) may be invested only in direct obligations of the United States, including obligations the principal of and interest on which are unconditionally guaranteed by the United States, that mature and bear interest payable at the times and in amounts sufficient to provide for the scheduled payment or redemption of the bonds to be refunded. The obligations may be in book-entry form. (c) The district must enter into an agreement under Subsection (a) if a bond to be refunded is scheduled to be paid or redeemed on a date later than the next scheduled interest payment date. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166 ), Sec. 1.06, eff. April 1, 2009.
Frequently Asked Questions About Texas § SD.6902.254
What does The Texas Constitution § SD.6902.254 cover?
Section SD.6902.254 ("ESCROW AGREEMENT") 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 § SD.6902.254?
A common citation format is "The Texas Constitution § SD.6902.254" (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 § SD.6902.254 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.