Government Code § 1207.021

Sec. 1207.021. AUTHORITY TO DEPOSIT WITH COMPTROLLER. (a) An issuer is entitled to deposit with the comptroller an amount of money equal to the sum of: (1) the principal amount of the bonds, notes, or other obligations to be refunded; (2) the interest that will accrue on those bonds, notes, or other obligations computed to the due date or redemption date; and (3) any required redemption premium. (b) At the time a deposit is made under Subsection (a), the issuer shall deliver to the comptroller a certified copy of the proceedings that authorize the issuance of the obligations to be refunded, or a certified excerpt from those proceedings, that clearly shows: (1) each amount of interest and the date on which that amount of interest is due on the obligations to be refunded; (2) the date the principal is subject to redemption; and (3) the name and address of the paying agent. (c) The comptroller may rely on a certificate by the issuer as to the amount of the charges made by the paying agent. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.