Government Code § 1505.080
Unspent bond-sale proceeds must go to the bond and interest redemption fund, and can only be used to pay principal or buy outstanding bonds. Purchased bonds cannot cost more than face value (excluding accrued interest), and any such bond must be canceled and cannot be reissued.
- Jurisdiction
- United States — Texas
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- Code
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- Language
- en
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bond proceeds bonds redemption fund
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Government Code § 1505.080
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