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Texas Health and Safety Code

§ 221.065 — REFUNDING BONDS

HS § 221.065Title 4. HEALTH FACILITIES · Part A. FINANCING, CONSTRUCTING, REGULATING, AND INSPECTING · Ch. 221. HEALTH FACILITIES DEVELOPMENT ACT · Art. C. BONDS

Statute text

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(a)A development corporation may issue bonds to refund any of its valid outstanding bonds, including any bonds issued for unspecified projects and including any redemption premium on the bonds and interest accrued to the date of redemption, on a finding by the board of directors of the development corporation that there is a public benefit and a public purpose for the refunding.
(b)The provisions of this chapter generally applicable to bonds apply to the issuance, maturity, terms, and holder's rights in the refunding bonds, and to the development corporation's rights, duties, and obligations in relation to the refunding bonds.
(c)The development corporation may issue the refunding bonds in exchange or substitution for outstanding bonds or may sell the refunding bonds and use the proceeds to pay or redeem outstanding bonds.

Legislative history

Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1993, 73rd Leg., ch. 829, Sec. 2, eff. June 19, 1993.

Source: Texas Health and Safety Code § 221.065 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.