Tex. Gov't Code § 1506.115 · Subchapter C. REVENUE BONDS FOR PARKING IMPROVEMENTS IN CERTAIN COASTAL MUNICIPALITIES
REFUNDING BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The governing body of a municipality by ordinance may issue revenue refunding bonds to refund bonds, including revenue refunding bonds, issued under this subchapter.
(b) Refunding bonds issued under this section must be executed and mature as provided by this subchapter for original bonds.
(c) The comptroller shall register refunding bonds on surrender and cancellation of the bonds to be refunded.
(d) The comptroller shall register refunding bonds without the surrender and cancellation of the bonds to be refunded if the ordinance authorizing the issuance of the refunding bonds requires the obligation to be sold and the proceeds from the sale to be deposited in a place where the bonds to be refunded are payable.
(e) Refunding bonds to which Subsection (d) applies may be issued in an amount sufficient to pay:
(1) the principal of the bonds to be refunded; and
(2) the interest on the bonds to be refunded to the option or maturity date of the bonds.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1506.htm
- Text hash
- sha256 666bd77264cd099508214fa51b95dd938255a4dcdc028cdd6dc0715811b46ac2
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.