reglab/housing_qa huggingface dataset:
TX Water Code § 58.448 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.448. Validity of Bonds

Sec. 58.448.  VALIDITY OF BONDS.  After the bonds are approved by the attorney general and registered by the comptroller, they shall be held to be valid, binding obligations of the district in any suit testing their validity.  Any person interested in the bonds may file a suit before the bonds are registered to test the validity, but may not bring suit to test validity after the bonds are registered.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.449 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.449. Conditions of Bonds

Sec. 58.449.  CONDITIONS OF BONDS.  (a)  The bonds may be issued to mature at the end of a term of years or to mature serially at any date which is not later than the maximum maturity date stated in the election order.(b)  The bonds may be issued at any rate of interest which is not more than the rate of interest set in the election order.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.450 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.450. Form of Bonds

Sec. 58.450.  FORM OF BONDS.  (a)  The bonds shall be issued in the name of the district and shall be signed by the president and attested by the secretary, with the seal of the district attached.(b)  The bonds shall be issued in denominations of $100 or multiples of $100 and shall be payable annually or semiannually.(c)  The board shall determine and include in the bonds the time, place, manner, and condition of payment of principal and interest on the bonds, but none of the bonds may be made payable more than 40 years from their date.(d)  The lien for payments due to the United States under a contract that was not accompanied by a deposit of bonds with the United States shall be a preferred lien to that of any issue of bonds of any series or any issue of bonds subsequent to the date of the contract.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.453 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.453. Validation Suit

Sec. 58.453.  VALIDATION SUIT.  (a)  A district may file a suit to determine the validity of the creation of the district and the bonds.(b)  If requested by the Secretary of the Interior, the district shall file a suit to validate a contract made with the United States.(c)  If a validation suit is filed, the bonds do not have to be approved by the attorney general.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.454 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.454. Effect of Prior Registration

Sec. 58.454.  EFFECT OF PRIOR REGISTRATION.  If bonds are approved by the attorney general and registered by the comptroller before a validation suit is filed, the filing of the suit cancels the prior registration.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.455 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.455. Procedure in Validation Suit

Sec. 58.455.  PROCEDURE IN VALIDATION SUIT.  (a)  A validation suit shall be brought by the district in the district court of any county in which all or part of the district is located or in a district court in Travis County.(b)  The suit shall be in the nature of a proceeding in rem.(c)  Any person who is interested in the suit may intervene and file an answer.(d)  The issue shall be tried and determined by the court and judgment shall be entered on the findings.(e)  Repealed by Acts 1981, 67th Leg., p. 2646, ch. 707, Sec. 4(53), eff. Aug. 31, 1981.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.  Amended by Acts 1981, 67th Leg., p. 2646, ch. 707, Sec. 4(53), eff. Aug. 31, 1981.|
TX Water Code § 58.456 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.456. Notice of Validation Suit

Sec. 58.456.  NOTICE OF VALIDATION SUIT.  (a)  To obtain jurisdiction of all parties to the validation suit, a general notice shall be published.(b)  The notice shall be published once a week for at least two consecutive weeks before the term of the court at which the notice is to be returned.  The notice shall be published in a newspaper with general circulation in the county or counties in which the district is located, but if no newspaper is published inside the district, the notice shall be published in a newspaper in the nearest county in which a paper is published.(c)  Notice also shall be served on the attorney general in the manner provided in civil suits.(d)  The attorney general may waive notice if he is furnished a full transcript of the proceedings held in connection with the creation of the district and the issuance of the bonds or held in connection with the authorization of a contract with the United States.  A copy of the contract with the United States also must be furnished.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.457 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.457. Duties of Attorney General in Validation Suit

Sec. 58.457.  DUTIES OF ATTORNEY GENERAL IN VALIDATION SUIT.  (a)  The attorney general shall examine all the proceedings and shall require any further evidence and make any further examination which he considers advisable.(b)  The attorney general then shall file an answer to the suit, submitting the issue of whether the proceedings are valid and the bonds are legal and binding obligations of the district, or whether the contract with the United States is legal and binding on the district.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.458 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.458. Judgment in Validation Suit

Sec. 58.458.  JUDGMENT IN VALIDATION SUIT.  (a)  After the trial of the validation suit, if the judgment of the court is adverse to the district on any issue, the district may make an exception and point out the error, and the error may be corrected by the judge in the manner directed by the court.(b)  The judgment shall be rendered showing that the corrections have been made and that the bonds or the contract with the United States are binding obligations of the district.(c)  After the judgment is entered, it is res judicata in all cases which may arise in connection with:(1)  the collection of the bonds or their interests;(2)  any taxes levied to pay charges or any money required to pay a contract with the United States;  and(3)  all matters relating to the organization and validity of the district or the validity of the bonds or contract.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.459 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.459. Effect of Validation Suit

Sec. 58.459.  EFFECT OF VALIDATION SUIT.  (a)  After a final judgment is rendered in the validation suit, the bonds or the contract with the United States shall be incontestable.(b)  No suit may be brought in any court of this state to contest or enjoin the validity of the creation of the district, any bonds which are issued, any contract with the United States, or the authorization of a contract with the United States, except in the name of the State of Texas by the attorney general on his own motion or on the motion of any party affected on good cause shown.(c)  The attorney general may not file or prosecute such a suit unless it is based on allegations of fraud disclosed or found after the final judgment in the validation suit was rendered.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.460 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.460. Certified Copy of Decree

Sec. 58.460.  CERTIFIED COPY OF DECREE.  (a)  After the judgment of the district court is entered, the clerk of the court shall make a certified copy of the decree which shall be filed with the comptroller.  The comptroller shall record the decree in the book kept for that purpose.(b)  The certified copy of the decree or a certified copy of the comptroller's record of the decree shall be received in evidence in any suit which may affect the validity of the organization of the district or the validity of the bonds or the contract and shall be conclusive evidence of validity.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.461 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.461. Registration of Bonds and Decree

Sec. 58.461.  REGISTRATION OF BONDS AND DECREE.  On the presentation of the bonds together with a certified copy of the decree of the court, the comptroller shall register the bonds in a book kept for that purpose.  The comptroller shall attach to each bond a certificate stating that the court's decree has been filed and recorded in his office and shall sign the certificate and attach his official seal.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.462 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.462. Sale of Bonds

Sec. 58.462.  SALE OF BONDS.  (a)  After the bonds are issued by the district, the board shall sell the bonds on the best terms and for the best price possible.(b)  The board shall pay the proceeds from the sale of the bonds to the district depository.(c)  The district may exchange bonds for property acquired by purchase or to pay the contract price of work done for the use and benefit of the district.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.463 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.463. Tax Levy

Sec. 58.463.  TAX LEVY.  (a)  At the time the bonds are voted, the board shall levy a tax on all property inside the district subject to district taxation in a sufficient amount to redeem and discharge the bonds at maturity.(b)  The board annually shall levy or have assessed and collected taxes on all property inside the district in a sufficient amount to pay installments and interest as they become due.(c)  If a contract is made with the United States, the board annually shall levy taxes on property inside the district in a sufficient amount to pay installments and interest as they become due.(d)  The board may issue the bonds in serial form or payable in installments, and the tax levy shall be sufficient if it provides an amount sufficient to pay the interest on the bonds, the proportionate amount of the principal of the next maturing bond, and the expenses of assessing and collecting the taxes for that year.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.464 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.464. Adjustment of Tax Levy

Sec. 58.464.  ADJUSTMENT OF TAX LEVY.  (a)  The board may from time to time increase or diminish the tax to adjust it for the taxable values of the property subject to taxation by the district and the amount required to be collected.(b)  The board shall raise an amount sufficient to pay the annual interest of and principal on all outstanding bonds.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.  Amended by Acts 1979, 66th Leg., p. 2321, ch. 841, Sec. 4(r), eff. Jan. 1, 1982.|
TX Water Code § 58.466 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.466. Interest and Sinking Fund

Sec. 58.466.  INTEREST AND SINKING FUND.  (a)  The district shall have an interest and sinking fund which shall include all taxes collected under this chapter.(b)  Money in the interest and sinking fund may be used only:(1)  to pay principal and interest on the bonds;(2)  to defray the expenses of assessing and collecting the taxes;  and(3)  to pay principal and interest due under a contract with the United States if bonds have not been deposited with the United States.(c)  Money in the fund shall be paid out of the fund on warrants by order of the board as provided in this chapter.(d)  The depository shall receive and cancel each interest coupon and bond as it is paid and shall deliver it to the board to be recorded, cancelled, and destroyed.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.467 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.467. Investment of Sinking Fund

Sec. 58.467.  INVESTMENT OF SINKING FUND.  (a)  The board may invest any portion of the sinking fund of the district in bonds of the United States, the state, any county or city in the state, any irrigation or water improvement district, school district, or other tax bonds issued under the laws of the state.(b)  The funds may be invested if the bonds to be paid with them do not mature within three years from the time the investment is made and if it is necessary to preserve the best interest of the district.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.468 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.468. Refunding Bonds

Sec. 58.468.  REFUNDING BONDS.  (a)  The district may refund any bonds issued by it by issuing new bonds.(b)  Refunding bonds may be issued only if the old bonds are taken in exchange at their face value or less or new bonds can be sold at a premium and the old bonds retired without loss to the district.(c)  The comptroller may not register the refunding bonds until the old bonds for which the refunding bonds are being issued are presented to him for cancellation or until a valid contract providing for the purchase or exchange of the old bonds is executed and a copy filed in his office.(d)  The comptroller shall keep the refunding bonds until the old bonds are presented to him for exchange or payment, and if the old bonds are presented for payment, the district shall pay them before the refunding bonds are registered.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.469 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.469. Limitation of Authority to Incur Debt and Issue Bonds

Sec. 58.469.  LIMITATION OF AUTHORITY TO INCUR DEBT AND ISSUE BONDS.  (a)  For the benefit of purchasers or holders of bonds to be issued or sold, the board of a district operating under the provisions of Article XVI, Section 59, of the Texas Constitution, may limit the authority of the district to incur debt or issue bonds.(b)  The board shall limit the authority by adopting a resolution which states that during a period of not more than 15 years the district will not issue bonds in an amount of more than 25 percent of the assessed value of taxable real property in the district according to the last assessment for district purposes or in an amount of more than a fixed sum or for certain named purposes.(c)  The board shall publish notice of the adoption of the resolution once a week for two consecutive weeks in a newspaper with general circulation in the district.  The notice shall state that the resolution will take effect unless a petition against the proposed limitation signed by 20 percent of the electors of the district is presented within 20 days after the first publication of the notice.(d)  If a petition is filed against the limitation, the resolution will not take effect until it is approved at an election held in the district.(e)  The ballots for the election shall be printed to provide for voting for or against:  "The limitation during the term of years of the maximum debt of the district to _______________."  (The blank space shall be filled with the purpose of the election).(f)  If the limitation is approved at an election or if no petition is filed against the resolution, the district may not issue bonds under any statute or constitutional provision in excess of the limitation during the designated term of years except to complete and make repairs to improvements whose cost will be within the debt limitation.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.470 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.470. Issuing Bonds in Excess of Limitation

Sec. 58.470.  ISSUING BONDS IN EXCESS OF LIMITATION.  (a)  A district may issue bonds in excess of a limitation made under Section 58.469 of this code only after the commission has approved the plans and specifications with the estimate of costs.(b)  If the plans, specifications, and estimate are approved, notice of the intention to issue the bonds shall be published once a week for three consecutive weeks in a newspaper with general circulation in the district.  The notice shall include a statement of the purpose for issuing the bonds, the amount of the proposed bond issue, and the time the hearing is to be held, which may not be less than 30 days after the notice is first published.(c)  The board shall hold the hearing and any taxpayer, bondholder, or other interested person may appear and be heard.(d)  If the board approves the issuance of the additional bonds in the amount and for the purpose stated in the notice, the question of issuing the bonds shall be submitted to the electors of the district at an election.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.471 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.471. Modifications or Improvements

Sec. 58.471.  MODIFICATIONS OR IMPROVEMENTS.  (a)  After bonds are issued or a contract is entered into with the United States, the board may give notice of an election to be held to authorize the issuance of additional bonds or a further contract with the United States.(b)  Additional bonds may be issued or a supplemental contract made if the board considers it necessary to:(1)  make modifications in the district or its improvements;(2)  construct further or additional improvements and issue additional bonds on the report of the engineer;(3)  make a supplemental contract with the United States;  and(4)  make, on its own motion, additional improvements or purchase additional property to accomplish the purposes of the district and to serve the best interest of the district.(c)  The board shall enter its findings in the minutes.(d)  The election shall be held and the returns made in the manner provided in this chapter for the original election.(e)  If the result of the election favors the issuance of the bonds or the supplemental contract with the United States, the board may order the bonds issued or the contract made with the United States in the manner provided in this chapter.(f)  If a supplemental contract is made with the United States and bonds are not to be deposited with the United States, it is not necessary to issue bonds.  If the district is required to raise money in addition to the amount of the contract, the bonds shall be issued only in the additional amount needed.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.472 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.472. Issuance of Additional Bonds or Creation of Additional Indebtedness Under Certain Conditions

Sec. 58.472.  ISSUANCE OF ADDITIONAL BONDS OR CREATION OF ADDITIONAL INDEBTEDNESS UNDER CERTAIN CONDITIONS.  (a)  A district may issue additional bonds or create additional indebtedness:(1)  if works, improvements, and facilities constructed under a plan provided in Section 58.440 or 58.452 of this code are inadequate to accomplish the beneficial results which the district's location and conditions demand;(2)  if it is considered necessary to make repairs, replacements, or additions to the district's improvements which cost more than $25,000;  or(3)  if additional money is needed to complete the improvements as planned.(b)  The district shall provide the additional money for the particular purpose in accordance with the provisions of this chapter regulating the creation of bond obligations subject to every limitation with respect to the original proceedings and the substantial protection of the substantive rights of holders of any of the district's outstanding obligations.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.473 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.473. Interim Bonds

Sec. 58.473.  INTERIM BONDS.  After bonds, other than preliminary bonds or notes, are voted by a district, the board may declare an existing emergency with relation to money being unavailable to pay for engineering work, purchase of land, rights-of-way, construction sites, construction work, and legal and other necessary expenses and may issue interim bonds on the faith and credit of the district in the manner provided in Sections 58.474-58.479 of this code to pay these expenses.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|
TX Water Code § 58.474 (2021)
2021 Texas Statutes|Water Code|Title 4 - General Law Districts|Chapter 58 - Irrigation Districts|Subchapter J. Issuance of Bonds|Section 58.474. Limitations on Interim Bonds

Sec. 58.474.  LIMITATIONS ON INTERIM BONDS.  (a)  Interim bonds shall mature not later than 10 years from the date they are issued, and shall be redeemable at any time before they mature, as provided in this subchapter.(b)  The principal amount of the interim bonds may not be more than 25 percent of the principal amount of the district's bonds which have been voted but not sold.(c)  Before the issuance of the interim bonds, the board, by resolution, may limit the issue to any amount less than 25 percent, and after the amount is determined and fixed by the resolution, no additional interim bonds may be issued and sold until all outstanding interim bonds are paid.|Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.|