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Tex. Spec. Dist. Local Laws Code § 8512.0509

INTERIM BONDS

Added by Acts 2025, 89th Leg., R.S., Ch. 203 (H.B. 1615), Sec. 1.02, eff

(a) Before issuing definitive bonds, the authority may make and issue interim bonds.

(b) The interim bonds issued shall be taken up with the proceeds of the definitive bonds, or the definitive bonds may be issued and delivered in exchange for the interim bonds.

(c) After an exchange of definitive bonds for interim bonds, the authority shall file certificates with the comptroller as to the exchange and cancellation, and the comptroller shall register the certificates in the same manner as the proceedings authorizing the issuance of the bonds are registered.

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