Sec. 162.051. PURCHASE AND DESTRUCTION OF BONDS. (a) The board may use money in the fund to purchase on the open market any bonds it has issued and sold to provide money for the fund, and the debt represented by those bonds when purchased is considered canceled.
(b) Bonds purchased by the board under Subsection (a) of this section shall be mutilated, burned, or otherwise destroyed by the comptroller, who shall certify this fact to the board under the seal of office.
(c) Interest may not be paid on those bonds after their purchase by the board.
Added by Acts 1993, 73rd Leg., ch. 242, Sec. 2.16, eff. Aug. 30, 1993. Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 14.22, eff. Sept. 1, 1997.
Structure Texas Statutes
Chapter 162 - Veterans' Housing Assistance Program
Section 162.031. Issuance and Sale of Bonds; Disposition of Proceeds
Section 162.033. Interest Rate
Section 162.034. Payment and Maturity of Bonds
Section 162.035. Form, Denomination, and Place of Payment of Bonds
Section 162.036. Manner of Execution
Section 162.037. Signatures and Seals
Section 162.038. Approval by Attorney General
Section 162.039. Registration With Comptroller
Section 162.040. Validity of Bonds
Section 162.041. Bonds as Negotiable Instruments
Section 162.042. Notice for Bids on Bonds
Section 162.043. Security for Bid
Section 162.044. Sale of Bonds
Section 162.045. Replacement Bonds
Section 162.046. Refunding Bonds
Section 162.047. Bonds as Investments and Security
Section 162.048. Taxation of Bonds
Section 162.049. Payment of Principal and Interest
Section 162.050. Constitutional Appropriations