{"data":{"id":"us-tx/tex.-government-code-1505.080","jurisdiction":"us-tx","citation":"Tex. Government Code § 1505.080","heading":"UNEXPENDED BALANCE.","body":"(a) Any proceeds of the sale of bonds issued under this subchapter that are unspent after completion of the project for which the bonds were issued:\n(1) shall be deposited to the credit of the bond and interest redemption fund for the bonds; and\n(2) may be used only to:\n(A) pay the principal of the bonds; or\n(B) purchase outstanding bonds of the issue from which the proceeds were derived.\n(b) A bond may not be purchased under Subsection (a)(2)(B) for a price that exceeds, excluding accrued interest, the face amount of the bond.\n(c) A bond purchased under Subsection (a)(2)(B) must be canceled and may not be reissued.\nAdded by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.","path":["GOVERNMENT CODE","TITLE 9. PUBLIC SECURITIES","SUBTITLE J. SPECIFIC AUTHORITY FOR MUNICIPALITIES TO ISSUE SECURITIES","CHAPTER 1505. OBLIGATIONS FOR COASTAL MUNICIPALITIES FOR COASTAL MATTERS","SUBCHAPTER B. BONDS FOR NAVIGATIONAL FACILITIES IN CERTAIN COASTAL MUNICIPALITIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1505.htm#1505.080","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"a99b3a0b22572ce5cace074809bcabfa6d784174c12413d53a8eee684122f04e","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-1505.079","next":"us-tx/tex.-government-code-1505.081"},"notice":"GroundRules: Original legal text. Not legal advice."}