Texas Government Code 1401.045 – Interest and Sinking Fund Balance Report
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(a) The authority shall report to the Legislative Budget Board and the Governor’s Office of Budget and Planning an accurate estimate of interest and sinking fund balances available for payment of debt service on general obligation bonds.
(b) The report must be made not later than January 1 of each odd-numbered year.
Terms Used In Texas Government Code 1401.045
- 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