Texas Water Code 63.257 – Bond Record
Current as of: 2024 | Check for updates
|
Other versions
(a) After bonds are issued, the board shall procure and deliver to the secretary of the district a well-bound book for recording the bonds.
(b) The record kept in the book shall include:
(1) the bonds and their numbers;
(2) the amount of the bonds;
(3) the interest rate;
(4) the date of issuance;
(5) the date the bonds become due;
(6) the place where the bonds are payable;
(7) the amount received for each bond; and
(8) the tax levy to pay interest and provide a sinking fund.
Terms Used In Texas Water Code 63.257
- Board: means the navigation board. See Texas Water Code 63.001
- District: means a self-liquidating navigation district. See Texas Water Code 63.001
- 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
(c) The bond record shall be available for public inspection by all interested parties in the district.
(d) On payment of a bond, an entry of the payment shall be made in the bond record.