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Texas Special District Local Laws Code

§ 1047.202 — CANCELLATION OF BOND

SD § 1047.202Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1047. JASPER HOSPITAL DISTRICT · Art. E. BONDS

Statute text

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(a)On the payment of interest or for the redemption of district bonds, the depository shall receive and cancel any interest coupon paid or bond discharged.
(b)When the interest coupon or bond is delivered to the board:
(1)the account of the depository shall be credited with the amount of the coupon or bond; and
(2)the coupon or bond shall be canceled and destroyed.

Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

Source: Texas Special District Local Laws Code § 1047.202 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.