Texas Government Code 1231.061 – Review of Certain Unissued State Securities; Biennial Report to Legislature
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(a) The board shall review all state securities, including general obligation and revenue bonds, that have been authorized but are unissued.
(b) Not later than October 31 of each even-numbered year, the board shall submit to the legislature a report that recommends whether the authorization for a state security should be revoked.
Terms Used In Texas Government Code 1231.061
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Year: means 12 consecutive months. See Texas Government Code 311.005