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Texas Statutes (Last Updated: January 4, 2014) |
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GOVERNMENT CODE |
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Title 10. GENERAL GOVERNMENT |
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Subtitle G. ECONOMIC DEVELOPMENT PROGRAMS INVOLVING BOTH STATE AND LOCAL GOVERNMENTS |
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Chapter 2306. TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS |
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Subchapter R. HOUSING FINANCE DIVISION BONDS: FORM; TERMS |
Sec. 2306.397. REDEMPTION BEFORE MATURITY; CONVERSION
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(a) Department bonds may be made redeemable before maturity.
(b) The board may provide and covenant for the:
(1) conversion of one form of bond to another form; and
(2) reconversion of a bond to another form.
(c) Except as provided by Subsection (d), a replacement, converted, or reconverted bond must be approved and registered as provided by Sections 2306.431 and 2306.432, under procedures established by the resolution authorizing the bonds.
(d) If the duty of replacement, conversion, or reconversion of a bond is imposed on a place of payment (paying agent) or a corporate trustee under a trust agreement or trust indenture, the replacement, converted, or reconverted bond does not need to be reapproved by the attorney general or reregistered by the comptroller as provided by Sections 2306.431 and 2306.432.