Texas Water Code 62.204 – Refunding Bonds Sold At Par
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Terms Used In Texas Water Code 62.204
- Commission: means the navigation and canal commission. See Texas Water Code 62.001
- District: means a navigation district operating under the provisions of Article XVI, § 59, of the Texas Constitution. See Texas Water Code 62.001
The refunding bonds shall be sold by the commission at not less than their par value, delivered to the holders of not less than a like par amount of the bonds of the district authorized to be refunded in exchange for the prior bond obligations, or sold in part and exchanged in part.