Tex. Health and Safety Code § 285.005
REFUNDING PROHIBITED; REPAYMENT REQUIRED
Texas · Texas Health and Safety Code · Status: effective
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- Citation
- Tex. Health and Safety Code § 285.005, REFUNDING PROHIBITED; REPAYMENT REQUIRED, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/670516
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Full text
(a) An advance may not be refunded, refinanced, or extended.
(b) When district revenues are received, the commissioners court shall apply them to the payment or prepayment of outstanding, unpaid advances under the revenue anticipation agreement if:
(1) those revenues are not required or committed to pay other district obligations and expenses; and
(2) the revenues are received during the term of the revenue anticipation agreement.
(c) Until all advances under a revenue anticipation agreement are repaid, retired, and canceled, an advance may not be made under a subsequent revenue anticipation agreement.