{"data":{"id":"us-tx/tex.-government-code-1207.026","jurisdiction":"us-tx","citation":"Tex. Government Code § 1207.026","heading":"USE OF SALE PROCEEDS TO MAKE DEPOSIT; RIGHTS NOT DEPENDENT ON CANCELLATION OF OBLIGATIONS TO BE REFUNDED.","body":"(a) An issuer may sell and deliver refunding bonds that have been registered with the comptroller so as to permit the issuer, in a timely manner determined by the issuer, to use proceeds from the sale to make all or any part of a deposit under this chapter.\n(b) An issuer that has complied with this chapter may issue, register, sell, or deliver a refunding bond in lieu of the obligation to be refunded regardless of whether:\n(1) the holder of the obligation to be refunded has surrendered or presented the obligation for payment and cancellation; or\n(2) the obligation to be refunded has been canceled.\nAdded by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.","path":["GOVERNMENT CODE","TITLE 9. PUBLIC SECURITIES","SUBTITLE A. GENERAL PROVISIONS","CHAPTER 1207. REFUNDING BONDS","SUBCHAPTER B. ADVANCE REFUNDING PROCEDURES"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1207.htm#1207.026","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"c2c8a9c1ddad41c02dd104be476e5739dffd4708b1ccecee97d34c7f07289906","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-1207.025","next":"us-tx/tex.-government-code-1207.027"},"notice":"GroundRules: Original legal text. Not legal advice."}