Tex. Local Government Code § 254.085
This is the official text of Tex. Local Government Code § 254.085, part of Texas’s Local Government Code — governs the powers and operations of Texas cities and counties.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 254.085. REGISTRATION OF REFUNDING OBLIGATIONS BY COMPTROLLER.
Official statutory text
(a) Except as provided by Subsection (b), the comptroller shall register refunding obligations on surrender and cancellation of the obligations to be refunded.
(b) The comptroller shall register refunding obligations without the surrender and cancellation of the obligations to be refunded if:
(1) the ordinance or resolution authorizing the issuance of the refunding obligations requires that:
(A) the obligations be sold at public or private sale; and
(B) the proceeds from the sale be deposited:
(i) in a place where the obligations to be refunded are payable; or
(ii) with the comptroller; and
(2) the refunding obligations are issued in an amount sufficient to pay the principal of and interest on the obligations to be refunded to the option or maturity date of the obligations.
(b) The comptroller shall register refunding obligations without the surrender and cancellation of the obligations to be refunded if:
(1) the ordinance or resolution authorizing the issuance of the refunding obligations requires that:
(A) the obligations be sold at public or private sale; and
(B) the proceeds from the sale be deposited:
(i) in a place where the obligations to be refunded are payable; or
(ii) with the comptroller; and
(2) the refunding obligations are issued in an amount sufficient to pay the principal of and interest on the obligations to be refunded to the option or maturity date of the obligations.
Status: in_force · Read it on the official government site
Need a lawyer in Texas?
Find a Texas lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.