Texas Natural Resources Code

§ 221.047 — BOND REQUIREMENTS

NR § 221.047Title 12. WETLANDS · Ch. 221. WETLAND MITIGATION · Art. C. PROVISIONS FOR POLITICAL SUBDIVISIONS

(a)A bond issued under Section 221.046 is a negotiable instrument within the meaning and for purposes of the Business & Commerce Code.

(b)The bond may be:

(1)issued registrable as to principal or as to both principal and interest; or

(2)made redeemable before maturity.

(c)The bond may be:

(1)issued in the form, denominations, and manner and under the terms provided by the order or resolution authorizing the issuance of the bond; and

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Legislative history

Added by Acts 1997, 75th Leg., ch. 165, Sec. 24.01(a), eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.361, eff. Sept. 1, 2001.