Section 1207.021 - Authority to Deposit With Comptroller(a) An issuer is entitled to deposit with the comptroller an amount of money equal to the sum of:(1) the principal amount of the bonds, notes, or other obligations to be refunded;(2) the interest that will accrue on those bonds, notes, or other obligations computed to the due date or redemption date; and(3) any required redemption premium.(b) At the time a deposit is made under Subsection (a), the issuer shall deliver to the comptroller a certified copy of the proceedings that authorize the issuance of the obligations to be refunded, or a certified excerpt from those proceedings, that clearly shows:(1) each amount of interest and the date on which that amount of interest is due on the obligations to be refunded;(2) the date the principal is subject to redemption; and(3) the name and address of the paying agent.(c) The comptroller may rely on a certificate by the issuer as to the amount of the charges made by the paying agent.Tex. Gov't. Code § 1207.021
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.