Texas Transportation Code 257.123 – Bond Records
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(a) The commissioners court of each county included in whole or part in a road district established under this subchapter shall make a record of the district bonds issued under this subchapter.
(b) The county clerk of each county shall keep the record. The record must show:
(1) the numbers of the bonds;
(2) the amount of each bond;
(3) the interest rate of each bond;
(4) the date of issue of each bond; and
(5) when each bond is due and where it is payable.
Terms Used In Texas Transportation Code 257.123
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC