reglab/statecodes huggingface dataset:
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.018. Notice of Election

Sec. 1471.018.  NOTICE OF ELECTION.  (a)  Notice for all elections held under this chapter must be given as required by Chapter 4, Election Code.  The commissioners court shall give notice of an election to be held for a commissioners or justice precinct or a road district by posting notice in at least three public places in the precinct or district and at the county courthouse door.
(b)  The commissioners court may, in addition to the notice required by Subsection (a), prescribe that notice of an election or hearing for bonds to be issued for a precinct or district be given by mail to:
(1)  each registered voter in the precinct or district;
(2)  each owner of property in the precinct or district as shown on the tax roll of the county;  and
(3)  each person having an interest in property in the precinct or district as may reasonably be ascertained.
(c)  Notice given under Subsection (b) is effective when properly addressed and mailed.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.019. Results of Election

Sec. 1471.019.  RESULTS OF ELECTION.  The commissioners court may issue bonds on the faith and credit of the applicable political subdivision if two-thirds of the voters voting in the election approve the issuance of the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.020. Effect of Lack of Notice

Sec. 1471.020.  EFFECT OF LACK OF NOTICE.  Notice under Section 1471.016(d) or 1471.018(a) is not a prerequisite to and does not affect the validity of a hearing or election to which the notice relates.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.021. Maturity

Sec. 1471.021.  MATURITY.  A bond issued under this chapter must mature not later than 30 years after its date except as otherwise provided by this chapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.022. Designation of Bonds

Sec. 1471.022.  DESIGNATION OF BONDS.  (a)  Bonds issued under this chapter by the county as a whole must be designated as "__________ (name of county) County Road Bonds."
(b)  Bonds issued under this chapter for a commissioners or justice precinct or a road district must:
(1)  be designated as "Road Bonds";  and
(2)  state on their face "The State of Texas," the name of the county, and the number or corporate name of the precinct or district issuing the bonds.
(c)  Bonds issued under this chapter must state on their face that the bonds are issued under Section 52, Article III, Texas Constitution, and laws enacted under the constitution.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.023. Disposition of Bond Proceeds

Sec. 1471.023.  DISPOSITION OF BOND PROCEEDS.  (a)  The commissioners court has the custody and control of bonds or bond anticipation notes issued under this chapter until sold under Chapter 1201.
(b)  The portion of the proceeds that represents capitalized interest shall be placed in the county treasury to the credit of the applicable political subdivision and may be used only to pay interest due on the bonds or bond anticipation notes.
(c)  Money remaining from the proceeds after the amounts described in Subsection (b) are deposited and after the costs of the issuance of the bonds or bond anticipation notes are paid shall be placed in the county treasury to the credit of the available road fund of the applicable political subdivision to be used for the purposes for which the bonds were issued, including:
(1)  payment of the following costs as approved by the commissioners court:
(A)  surveying;
(B)  creation;
(C)  construction or acquisition;  or
(D)  operation or maintenance;  and
(2)  payment or establishment of a reasonable reserve to pay an amount equal to not more than three years' interest on the notes and bonds of the political subdivision, as provided in the bond order or resolution.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.024. Duties of County Treasurer

Sec. 1471.024.  DUTIES OF COUNTY TREASURER.  (a)  The county treasurer is the custodian of:
(1)  all money collected under this chapter;  and
(2)  all taxes collected to pay principal of and interest on bonds issued under this chapter.
(b)  The county treasurer shall:
(1)  deposit the money collected with the county depository in the same manner as other money of the county;  and
(2)  promptly pay the principal of and interest on the bonds as they become due from the money collected and deposited for that purpose.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.025. Disbursement of Bond Proceeds by County Treasurer

Sec. 1471.025.  DISBURSEMENT OF BOND PROCEEDS BY COUNTY TREASURER.  (a)  The proceeds of county bonds may be paid out only by the county treasurer on warrants:
(1)  drawn on the available road fund;
(2)  issued by the county clerk;
(3)  countersigned by the county judge;  and
(4)  on certified accounts approved by the commissioners court.
(b)  The proceeds of bonds issued on the faith and credit of a commissioners or justice precinct or a road district may be paid out only by the county treasurer on warrants:
(1)  drawn on the available road fund of the applicable political subdivision;
(2)  issued by the county clerk;
(3)  countersigned by the county judge;  and
(4)  approved by the commissioners court.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.026. Investment of Sinking Funds

Sec. 1471.026.  INVESTMENT OF SINKING FUNDS.  (a)  The commissioners court may invest money in a sinking fund accumulated for the redemption and payment of any bonds issued under this chapter in:
(1)  bonds of the United States, this state, or a county, municipality, school district, or road district of this state;
(2)  bonds of the federal Farm Credit System;  or
(3)  certificates of indebtedness issued by the secretary of the treasury of the United States.
(b)  Sinking funds accumulated for the redemption and payment of bonds issued under this chapter may not be invested in bonds the terms of which provide for a maturity date after the date of maturity of the bonds for which the sinking fund was created.
(c)  Interest on an investment shall be applied to the sinking fund associated with the investment.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.027. Use of Bond Proceeds Outside Road District

Sec. 1471.027.  USE OF BOND PROCEEDS OUTSIDE ROAD DISTRICT.  A road district may use the proceeds of bonds issued under this chapter for road improvements located outside the district if the commissioners court finds that the improvements are reasonable, necessary, and beneficial to all taxable property in the district.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.028. Use of Surplus Sinking Fund

Sec. 1471.028.  USE OF SURPLUS SINKING FUND.  An amount remaining in the sinking fund after the principal of and interest on the bonds are fully paid may be used by a political subdivision:
(1)  for the construction, maintenance, and operation of macadamized, graveled, or paved roads or turnpikes;
(2)  to aid a purpose described by Subdivision (1);  or
(3)  for a permanent improvement authorized by law as determined by the officials of the political subdivision.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter B. Issuance of Bonds › Section 1471.029. Election for Repurchase and Cancellation of Bonds

Sec. 1471.029.  ELECTION FOR REPURCHASE AND CANCELLATION OF BONDS.  (a)  On receipt of a petition signed by at least 50 registered voters of the political subdivision issuing the bonds, the commissioners court shall order an election to determine whether road bonds in an amount equal to the unexpended and unpledged proceeds remaining from the sale of bonds issued under this chapter shall be repurchased, canceled, and revoked.
(b)  The commissioners court shall hold an election ordered under Subsection (a) in the same manner as the election at which the bonds were originally authorized.
(c)  The commissioners court may advertise for and repurchase the outstanding bonds from the holders if two-thirds of the voters voting in the election approve the repurchase, cancellation, and revocation.
(d)  After repurchasing the bonds, the commissioners court shall:
(1)  cancel and burn the bonds;  and
(2)  forward to the comptroller a certified copy of the minutes of the commissioners court showing the repurchase, cancellation, and destruction of the bonds.
(e)  On receipt of a copy under Subsection (d)(2), the comptroller shall promptly cancel the registration of the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter C. Refinancing Road District Bonds Through Assessments › Section 1471.051. Alternate Refunding Bonds and Certificates of Assessment Authorized

Sec. 1471.051.  ALTERNATE REFUNDING BONDS AND CERTIFICATES OF ASSESSMENT AUTHORIZED.  A road district may issue refunding bonds or certificates of assessment under this subchapter to refinance any portion of any outstanding bonded indebtedness if:
(1)  the district receives a petition that:
(A)  requests the issuance of the bonds or certificates;  and
(B)  is signed by persons who own taxable real property in the district that in total is valued at an amount at least equal to 66 percent of the appraised value of all taxable real property in the district, as determined by the most recent certified appraisal roll of the appraisal district in which the property is located;  and
(2)  the district determines, after notice and public hearing held in accordance with this subchapter, that the property in the district will benefit from the refinancing.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter C. Refinancing Road District Bonds Through Assessments › Section 1471.052. Assessment as Security

Sec. 1471.052.  ASSESSMENT AS SECURITY.  Bonds or certificates issued under this subchapter must be secured by a pledge of all or part of the money received by the road district from an assessment made against all taxable real property in the district under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter C. Refinancing Road District Bonds Through Assessments › Section 1471.053. Maturity

Sec. 1471.053.  MATURITY.  A bond or certificate issued under this subchapter must mature not later than 30 years after its date of issuance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter C. Refinancing Road District Bonds Through Assessments › Section 1471.054. Preparation of Assessment

Sec. 1471.054.  PREPARATION OF ASSESSMENT.  Before issuing bonds or certificates under this subchapter, the road district by order shall:
(1)  determine, as appropriate, the amount necessary to pay all or a part of the principal of and interest on:
(A)  the refunding bonds on maturity;  or
(B)  the outstanding bonded indebtedness of the district;
(2)  prepare a plan the district determines is equitable for apportioning the amount determined under Subdivision (1) among the record owners of real property in the district based on the ratio that the appraised value of each lot or parcel in the district bears to the total appraised value of real property in the district;  and
(3)  hold a public hearing on the district's intention to issue bonds or certificates.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter C. Refinancing Road District Bonds Through Assessments › Section 1471.055. Notice of Hearing

Sec. 1471.055.  NOTICE OF HEARING.  (a)  Notice of the hearing ordered under Section 1471.054 must provide:
(1)  the date, time, place, and subject matter of the hearing;
(2)  that refunding bonds or certificates of assessment are proposed to be issued by the road district;
(3)  the purpose for which the bonds or certificates are to be issued;
(4)  the amount determined under Section 1471.054(1);  and
(5)  the plan prepared by the district under Section 1471.054(2).
(b)  Notice containing the information required by Subsection (a) must be published in a newspaper of general circulation in the county not later than the 30th day before the date of the hearing.
(c)  Not later than the 14th day before the date of the hearing, the district shall mail to each owner of real property in the district as determined from the most recent certified appraisal roll of the appraisal district in which the property is located notice containing:
(1)  the information required by Subsection (a)(1);  and
(2)  an estimate of the amount of the assessment to be apportioned to that owner's property.
(d)  The failure of a property owner to receive notice of the hearing and of the estimated assessment does not affect the validity of the hearing or a subsequent assessment.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter C. Refinancing Road District Bonds Through Assessments › Section 1471.056. Imposition of Assessment

Sec. 1471.056.  IMPOSITION OF ASSESSMENT.  (a)  If, at the conclusion of the hearing, the road district by order determines that the property in the district will benefit from refinancing under this subchapter, the district may:
(1)  issue refunding bonds or certificates of assessment to pay all or part of the district's bonded indebtedness;  and
(2)  impose the assessments as special assessments on the property in the district.
(b)  For assessments imposed under Subsection (a), the district:
(1)  shall specify the method of payment and rate of interest of the assessments;  and
(2)  may provide for payment in periodic installments in amounts necessary to pay the principal of and interest on the refunding bonds or certificates of assessment as accrued.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter C. Refinancing Road District Bonds Through Assessments › Section 1471.057. Appeal of Assessment

Sec. 1471.057.  APPEAL OF ASSESSMENT.  (a)  A property owner may appeal an assessment under this subchapter by filing a notice of appeal with the road district not later than the 30th day after the date the assessment is adopted.  After receiving notice of appeal under this subsection, the district shall set a date to hear the appeal.
(b)  A property owner may appeal a district's decision on an assessment made under this subchapter to a court by filing notice of the appeal with the court not later than the 30th day after the date of the district's final decision on the assessment.
(c)  A property owner who fails to file notice in the time required by Subsection (a) or (b) loses the right to appeal the assessment.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter C. Refinancing Road District Bonds Through Assessments › Section 1471.058. Reassessment

Sec. 1471.058.  REASSESSMENT.  (a)  A road district may make a new assessment of property assessed under this subchapter if an assessment of the property is:
(1)  set aside by a court;
(2)  found excessive by the district;  or
(3)  determined invalid by the district.
(b)  A district may reassess property if:
(1)  at the time the bonds or certificates are issued under this subchapter, the property is exempt from taxation under Subchapter B, Chapter 11, Tax Code,  or appraised under Subchapter C,  D,  or E,  Chapter 23, Tax Code;  and
(2)  the property subsequently loses its exemption or is not eligible for appraisal under Subchapter C, D, or E, Chapter 23, Tax Code.
(c)  A district may make a supplemental assessment to correct an omission or mistake in an assessment.
(d)  Before making an assessment under Subsection (b) or (c), a district must give notice and conduct a hearing in the manner required for an original assessment.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter C. Refinancing Road District Bonds Through Assessments › Section 1471.059. Adjustment of Values Following Reassessment

Sec. 1471.059.  ADJUSTMENT OF VALUES FOLLOWING REASSESSMENT.  (a)  In making a reassessment under Section 1471.058(b), the road district shall assess the property using the property's market value for the year preceding the year in which the bonds or certificates are issued.
(b)  The district shall proportionately reduce the assessment of the other property in the district to reflect the value of the reassessed property.  The district shall refund to a property owner the difference between the amount of the original assessment and a new assessment under this subsection if the property owner has paid the entire amount of the original assessment.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter C. Refinancing Road District Bonds Through Assessments › Section 1471.060. Lien for Unpaid Assessment

Sec. 1471.060.  LIEN FOR UNPAID ASSESSMENT.  (a)  An assessment under this subchapter, any interest, and any expenses of collection or reasonable attorney's fees incurred are a lien against the assessed property until paid.
(b)  A lien under Subsection (a):
(1)  is superior to any other lien except an ad valorem tax lien;  and
(2)  is effective from the date the assessment is imposed until the date the total amount of the assessment for the property is paid.
(c)  A road district may enforce a lien under Subsection (a) in the same manner as the commissioners court enforces an ad valorem tax lien.
(d)  The owner of assessed property is personally liable for the payment of an assessment under this subchapter and may pay at any time the entire amount of the assessment and accrued interest on any lot or parcel.  Liability for an assessment passes with the property on a transfer of ownership.
(e)  A lien for a supplemental assessment or reassessment is effective even if the property has been released from a prior lien under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter C. Refinancing Road District Bonds Through Assessments › Section 1471.061. Issuance and Form of Certificates

Sec. 1471.061.  ISSUANCE AND FORM OF CERTIFICATES.  (a)  A road district may issue and transfer, on terms determined by the district, a certificate of assessment for each assessed lot or parcel.  A certificate of assessment may be issued under Chapter 1207 as if it were a bond.  On making a supplemental assessment or reassessment, the district shall provide a certificate of assessment reflecting any change in the value of the original assessment.
(b)  A certificate must state:
(1)  the amount of the lien on the assessed property;
(2)  the liability of the property owner for the lien;
(3)  the terms of transfer of the certificate;
(4)  that the assessment was imposed and the certificate was issued under this subchapter;  and
(5)  that the certificate is not an obligation of or secured by a pledge of the faith or credit of a county in which the district is located.
(c)  A certificate is prima facie evidence of all the matters shown on the certificate.
(d)  A holder of the certificate may enforce the assessment in the same manner as the district may enforce assessments made under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter C. Refinancing Road District Bonds Through Assessments › Section 1471.062. Assessments Considered Taxes

Sec. 1471.062.  ASSESSMENTS CONSIDERED TAXES.  For purposes of a title insurance policy issued under Title 11, Insurance Code, an assessment under this subchapter and any interest on or expenses or attorney's fees related to the assessment are considered taxes.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.121, eff. September 1, 2005.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter D. Compensation Bonds › Section 1471.081. Election Authorized

Sec. 1471.081.  ELECTION AUTHORIZED.  (a)  On receipt of a petition signed by 250 registered voters residing anywhere in the county, the commissioners court shall order an election in the county to determine whether bonds of the county shall be issued to fully compensate a commissioners or justice precinct or a road district for bonds authorized to be issued under a general or special law adopted under Section 52, Article III, Texas Constitution.
(b)  At the election, the ballot proposition must include:
(1)  the purpose for which the bonds are to be issued;  and
(2)  the question as to whether a tax shall be imposed on the taxable property in the county to pay the interest on the bonds and to provide a sinking fund for the redemption of the bonds.
(c)  If the bonds of the precinct or district have been authorized but not issued and sold or if the bonds have been sold but the proceeds have not been spent, the ballot proposition must state:  "The issuance of county bonds for the construction of district roads and the further construction, maintenance, and operation of macadamized, graveled, or paved roads and turnpikes, or in aid of these purposes, throughout the county."
(d)  If the bonds of the precinct or district have been issued and the proceeds have been applied to the construction of roads in the precinct or district, the ballot proposition must state:  "The issuance of county bonds for the purchase of district roads and the further construction, maintenance, and operation of macadamized, graveled, or paved roads and turnpikes, or in aid of these purposes, throughout the county."
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter D. Compensation Bonds › Section 1471.082. Issuance of County Bonds

Sec. 1471.082.  ISSUANCE OF COUNTY BONDS.  (a)  If the proposition to issue county bonds receives the required favorable vote, the county shall issue the bonds in the amount stated in the election order, but not in an amount that exceeds a limitation imposed by the constitution or a statute.
(b)  After the county issues the bonds, the commissioners court shall set aside the amount necessary to fully compensate the commissioners or justice precinct or road district for the purpose for which the bonds were issued.
(c)  If the bonds are approved for the purpose described by Section 1471.081(c) and the precinct or district bonds have not been issued and sold, the commissioners court shall:
(1)  apply the proceeds of the county bonds to the construction, maintenance, and operation of the roads in the precinct or district as contemplated by the election approving the precinct or district bonds;  and
(2)  immediately cancel and destroy the unsold precinct or district bonds.
(d)  If the bonds are approved for the purpose described by Section 1471.081(d), the roads of the precinct or district may become a part of the county road system.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter D. Compensation Bonds › Section 1471.083. Exchange of Bonds

Sec. 1471.083.  EXCHANGE OF BONDS.  (a)  If county bonds are authorized for commissioners or justice precinct or road district bonds that have been issued and sold, an exchange of a like amount of the county bonds may be made with the holder of any outstanding bonds of the precinct or district.
(b)  An agreement for an exchange under this section must:
(1)  be by order of the commissioners court authorizing the exchange;  and
(2)  contain the signed and acknowledged written consent of the holder of the bonds in the form required by law for written instruments.
(c)  A copy of the order authorizing the exchange, the agreement, and the county bonds to be given in exchange shall be submitted to the attorney general for approval.  The exchange is not effective until the attorney general issues a certificate approving the exchange.
(d)  If the exchange takes effect under this section:
(1)  the commissioners court shall cancel and destroy the bonds of the precinct or district;
(2)  the county may not impose the tax approved at the election of the precinct or district authorizing the bonds;  and
(3)  the sinking fund associated with the bonds of the precinct or district shall be transferred to the sinking fund account of the county.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter D. Compensation Bonds › Section 1471.084. Deposit of County Bonds as Guarantee

Sec. 1471.084.  DEPOSIT OF COUNTY BONDS AS GUARANTEE.  (a)  If the commissioners court determines that an exchange cannot be made under Section 1471.083, the court as soon as practicable shall deposit with the county treasurer to the credit of the interest and sinking fund account of the commissioners or justice precinct or road district an amount of county bonds equal to the amount of outstanding bonds of the precinct or district.
(b)  Before depositing the county bonds under Subsection (a), the commissioners court shall submit to the attorney general a copy of the order authorizing the deposit and the county bonds to be deposited.  The county bonds may be deposited only if the attorney general issues a certificate of approval.
(c)  To be deposited under this section, county bonds must:
(1)  have the word "nonnegotiable" written across the face of the bond;  and
(2)  state that the bonds are deposited to the credit of the interest and sinking fund account of the precinct or district named in the bonds as a guarantee of the payment of the outstanding bonds of the precinct or district that have not been exchanged.
(d)  Coupons attached to county bonds to be deposited must have the word "nonnegotiable" written on the coupons.
(e)  After deposit of the county bonds:
(1)  the sinking fund associated with the bonds of the precinct or district shall be transferred to the sinking fund account of the county;  and
(2)  the commissioners court may not impose the tax approved at the election of the precinct or district authorizing the bonds.
(f)  The commissioners court shall pay annually the interest on the county bonds deposited under this section from taxes imposed to pay interest on the county bonds and detach the coupon used for payment.  The payment shall be credited to the interest account of the precinct or district, and the court shall use that money to pay the interest on the outstanding bonds of the precinct or district.
(g)  From the taxes imposed to provide the sinking fund for the county bonds, the commissioners court shall set aside annually in the sinking fund the amount necessary for the retirement of the county bonds.  On maturity of the county bonds, the court shall pay the bonds in full.  The payment shall be credited to the sinking fund of the precinct or district, and the court shall use that money to pay in full all outstanding bonds of the precinct or district.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter D. Compensation Bonds › Section 1471.085. Terms and Form of Compensation Bonds; Use of Surplus Bonds

Sec. 1471.085.  TERMS AND FORM OF COMPENSATION BONDS;  USE OF SURPLUS BONDS.  (a)  County bonds issued for a purpose described by Section 1471.081(c) or (d) shall:
(1)  be issued in similar denominations, bear the same rate of interest, and have the same date of maturity and similar payment options as the outstanding bonds of the commissioners or justice precinct or road district;  and
(2)  in all respects be similar to the outstanding precinct or district bonds except that the bonds:
(A)  are county obligations instead of precinct or district obligations;  and
(B)  shall be dated after the election at which the county bonds were authorized.
(b)  County bonds issued in excess of the amount required to exchange, offset, and retire the outstanding precinct or district bonds must mature within 40 years.
(c)  The proceeds of county bonds issued in excess of the amount required to exchange, offset, and retire the outstanding precinct or district bonds shall be credited to the available road fund of the county.  The commissioners court may spend the proceeds throughout the county only:
(1)  to construct, maintain, or operate a macadamized, graveled, or paved road or turnpike;  or
(2)  in aid of a purpose described by Subdivision (1).
(d)  Except as provided by this subchapter, the issuance and sale of bonds authorized by this subchapter and the imposition of taxes for the bonds shall be as required by law for other county bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter D. Compensation Bonds › Section 1471.086. Creation of Road District Containing Entire Territory of Existing District

Sec. 1471.086.  CREATION OF ROAD DISTRICT CONTAINING ENTIRE TERRITORY OF EXISTING DISTRICT.  (a)  If a road district is created that contains all of the territory of an existing commissioners or justice precinct or road district that has outstanding road bonds, the newly created district:
(1)  shall fully compensate the existing precinct or district in an amount equal to the amount of outstanding road bonds;  and
(2)  may issue bonds to:
(A)  purchase or construct roads in the existing precinct or district;
(B)  further construct, maintain, or operate macadamized, graveled, or paved roads or turnpikes in the new district;  or
(C)  aid in a purpose described by Paragraph (A) or (B).
(b)  The compensation shall be made and the bonds issued in the form and manner for county bonds under Sections 1471.081-1471.085 except that the petition must be signed by 50 or a majority of the registered voters of the new district.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1471 - Bonds for County Roads › Subchapter D. Compensation Bonds › Section 1471.087. Creation of Road District Containing Portion of Territory of Existing District

Sec. 1471.087.  CREATION OF ROAD DISTRICT CONTAINING PORTION OF TERRITORY OF EXISTING DISTRICT.  (a)  If a road district is created that contains a portion of the territory of an existing precinct or district that has outstanding road bonds, the newly created district may issue bonds to:
(1)  purchase roads in the existing precinct or district;  or
(2)  further construct macadamized, graveled, or paved roads or turnpikes in the new district.
(b)  The bonds shall be issued in the form and manner prescribed for county bonds under Sections 1471.081-1471.086.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1472 - Refunding of County Bonds for Causeways › Section 1472.001. Applicability of Chapter

Sec. 1472.001.  APPLICABILITY OF CHAPTER.  This chapter applies only to a county that has outstanding bonds:
(1)  issued to construct, acquire, improve, operate, or maintain a causeway;  and
(2)  the principal of and interest on which are payable from revenue derived from the operation of the causeway.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1472 - Refunding of County Bonds for Causeways › Section 1472.002. Authority to Issue Refunding Bonds

Sec. 1472.002.  AUTHORITY TO ISSUE REFUNDING BONDS.  (a)  The commissioners court of the county may issue bonds to refund the outstanding bonds described by Section 1472.001 and may impose ad valorem taxes to pay the interest on and to provide a sinking fund for the redemption of the refunding bonds only if the issuance of the bonds is approved by a majority of the qualified voters voting at an election held in the county in the manner provided by Chapter 1251.
(b)  The aggregate principal amount of outstanding refunding bonds issued under this section may not exceed an amount that, for the payment of the principal of and interest on the bonds, would require the county to impose ad valorem taxes at a rate greater than the 80-cent limitation established by Section 9, Article VIII, Texas Constitution.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1472 - Refunding of County Bonds for Causeways › Section 1472.003. Maturity

Sec. 1472.003.  MATURITY.  A bond issued under this chapter must mature not later than 40 years after its date.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1472 - Refunding of County Bonds for Causeways › Section 1472.004. Sale of Bonds

Sec. 1472.004.  SALE OF BONDS.  The commissioners court may determine the manner of sale of bonds issued under this chapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1472 - Refunding of County Bonds for Causeways › Section 1472.005. Exchange or Repayment of Bonds Being Refunded

Sec. 1472.005.  EXCHANGE OR REPAYMENT OF BONDS BEING REFUNDED.  The commissioners court may:
(1)  exchange bonds issued under this chapter for the bonds being refunded;  or
(2)  use the proceeds of bonds issued under this chapter to pay the principal amount of the bonds being refunded and any required redemption premium and cancel those bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1472 - Refunding of County Bonds for Causeways › Section 1472.006. Use of Funds Established for Bonds Being Refunded

Sec. 1472.006.  USE OF FUNDS ESTABLISHED FOR BONDS BEING REFUNDED.  On cancellation of the bonds being refunded, the commissioners court may use money in any fund established by the resolution or order authorizing the issuance of the bonds to be refunded:
(1)  to pay the principal of and accrued interest on the bonds to be refunded;
(2)  to pay any required redemption premium;
(3)  to make a payment into the road and bridge fund of the county;  or
(4)  for any other lawful purpose.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1472 - Refunding of County Bonds for Causeways › Section 1472.007. Continued Imposition of Taxes

Sec. 1472.007.  CONTINUED IMPOSITION OF TAXES.  A county issuing bonds under this chapter shall continue to impose ad valorem taxes to pay the interest on those bonds and to provide a sinking fund for the redemption of those bonds even if the facilities constructed with the proceeds of the bonds being refunded become a part of the state highway system.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1472 - Refunding of County Bonds for Causeways › Section 1472.008. Refunding of Refunding Bonds

Sec. 1472.008.  REFUNDING OF REFUNDING BONDS.  Subject to Section 1472.002(b), the commissioners court may refund bonds issued under this chapter on the terms, including the maturity, as determined by the court.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1473 - Obligations for County Buildings › Subchapter A. Bonds for Public Libraries › Section 1473.001. Authority to Issue Public Library Bonds

Sec. 1473.001.  AUTHORITY TO ISSUE PUBLIC LIBRARY BONDS.  The commissioners court of a county by order may authorize the issuance of county bonds to finance all or part of the acquisition, construction, improvement, enlargement, equipment, or repair of a public library building.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1473 - Obligations for County Buildings › Subchapter A. Bonds for Public Libraries › Section 1473.002. Pledge of Revenue

Sec. 1473.002.  PLEDGE OF REVENUE.  The commissioners court shall provide for the payment of the principal of and interest on bonds issued under this subchapter by pledging all or part of the revenue derived from:
(1)  the operation of the library building;  or
(2)  the lease of space in the library building.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1473 - Obligations for County Buildings › Subchapter A. Bonds for Public Libraries › Section 1473.003. Bonds Not Payable From Taxes

Sec. 1473.003.  BONDS NOT PAYABLE FROM TAXES.  An owner of a bond issued under this subchapter is not entitled to demand payment of the principal of or interest on the bond from money raised by taxation.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1473 - Obligations for County Buildings › Subchapter A. Bonds for Public Libraries › Section 1473.004. Contents of Order Authorizing Bonds

Sec. 1473.004.  CONTENTS OF ORDER AUTHORIZING BONDS.  (a)  The order of the commissioners court authorizing the issuance of bonds under this subchapter may provide for the flow of funds and the establishment and maintenance of an interest and sinking fund, a reserve fund, or another fund.
(b)  The order may:
(1)  prohibit the issuance of additional bonds or other obligations payable from the pledged revenue;  or
(2)  reserve the right of the commissioners court to issue additional bonds payable from the pledged revenue that are on a parity with or subordinate to the lien and pledge on the revenue that supports the bonds issued under the order.
(c)  The commissioners court may include in the order any other provision or covenant, including a covenant with respect to the bonds, the pledge of revenue, or the operation or maintenance of the library building.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1473 - Obligations for County Buildings › Subchapter A. Bonds for Public Libraries › Section 1473.005. Adoption and Execution of Documents

Sec. 1473.005.  ADOPTION AND EXECUTION OF DOCUMENTS.  The commissioners court may adopt and have executed any other proceeding or instrument necessary or convenient to the issuance of the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1473 - Obligations for County Buildings › Subchapter A. Bonds for Public Libraries › Section 1473.006. Maturity

Sec. 1473.006.  MATURITY.  A bond issued under this subchapter must mature not later than 40 years after its date.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1473 - Obligations for County Buildings › Subchapter A. Bonds for Public Libraries › Section 1473.007. Operating and Leasing Charges

Sec. 1473.007.  OPERATING AND LEASING CHARGES.  (a)  The commissioners court shall:
(1)  establish fees related to the operation of the library building;  and
(2)  charge rent for the lease of space in the library building.
(b)  The court shall establish the fees and rents in amounts to provide revenue sufficient to pay all expenses related to the ownership and operation of the library building, including:
(1)  payment of the principal of and interest on bonds issued under this subchapter;  and
(2)  the creation and maintenance of any required bond reserve fund.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1473 - Obligations for County Buildings › Subchapter A. Bonds for Public Libraries › Section 1473.008. Refunding Bonds

Sec. 1473.008.  REFUNDING BONDS.  (a)  A county may issue refunding bonds to refund all or any part of its outstanding bonds issued under this subchapter, including matured but unpaid interest coupons.  The comptroller shall register the refunding bonds on the surrender and cancellation of the bonds being refunded.  The refunding may take place in one delivery or in installment deliveries.
(b)  The refunding bonds may be payable from the same sources as the bonds to be refunded or from other additional sources.
(c)  A county may, in the order authorizing the issuance of the refunding bonds, provide for the sale of the refunding bonds and the deposit of the proceeds in the place at which the bonds to be refunded are payable.  In that case, the refunding bonds may be issued before the cancellation of the bonds to be refunded.
(d)  If refunding bonds are issued before cancellation of the bonds to be refunded, the county shall deposit an amount sufficient to pay the principal of and interest on the bonds to be refunded to their maturity dates, or to their option dates if the bonds have been called for payment before maturity according to their terms, in each place at which the bonds to be refunded are payable.  The comptroller shall register the refunding bonds without the surrender and cancellation of bonds to be refunded.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle I - Specific Authority for Counties to Issue Securities › Chapter 1473 - Obligations for County Buildings › Subchapter A. Bonds for Public Libraries › Section 1473.009. Exemption From Taxation

Sec. 1473.009.  EXEMPTION FROM TAXATION.  A bond issued under this subchapter, any transaction related to the bond, and profits made in the sale of the bond are exempt from taxation by this state or by a municipality or other political subdivision of this state.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.