If bonds are impounded or pledged to secure a loan made to a district, as the loan is repaid a proportionate amount of the bonds may be withdrawn, cancelled, and retired.
Tex. Water Code § 58.399
RETIRING BONDS
Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.