Sec. 7502.205. CAPITALIZED INTEREST AND DISCOUNT ON BONDS. (a) Capitalized interest on bonds issued under this subchapter may not exceed two years.
(b) A discount on bonds issued under this subchapter may not exceed five percent of the par value of the bonds.
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.05, eff. April 1, 2007.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle D - Irrigation Districts
Chapter 7502 - Lake Proctor Irrigation Authority of Comanche County, Texas
Section 7502.201. Authority to Issue Revenue Bonds
Section 7502.202. Purpose of Bonds
Section 7502.203. Security for Revenue Bonds
Section 7502.204. Maturity of Bonds
Section 7502.205. Capitalized Interest and Discount on Bonds