1207.021 – AUTHORITY TO DEPOSIT WITH COMPTROLLER. (a) An
Texas Government Code § 1207.021
Summary
This law allows issuers to deposit funds with the comptroller to cover the principal, interest, and any premiums for bonds or obligations being refunded. It ensures that the necessary amounts are set aside for future payments, protecting both the issuer and bondholders.
Issuers can deposit funds for bond refunding purposes.
Deposits must cover principal, interest, and premiums.
Ensures financial obligations are met on due dates.
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In simple terms: Learn about Texas's AUTHORITY TO DEPOSIT WITH COMPTROLLER. (a) An law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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