Tex. Transp. Code § 284.041
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Subject to any restriction in a bond instrument, a refunding bond may not be delivered unless delivered in exchange for the bond authorized to be refunded or unless sold and delivered to provide money for the payment of a matured or redeemable bond maturing or redeemable within three months.
Tex. Transp. Code § 284.041