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Tex. Gov't Code § 1232.121

CERTIFICATION AND DEPOSIT OF PROCEEDS OF OBLIGATIONS

Known as the Texas Public Finance Authority Act

The act spans §§ 1232.001 to 1232.206 (65 sections).

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff

(a) After issuing obligations, the board shall certify to the commission or the appropriate state agency and to the comptroller that the proceeds from the issuance are available. The board shall deposit the proceeds in the state treasury.

(b) The proceeds shall be credited to the account of the state agency that is responsible under an agreement for making rental or installment payments to the authority.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.