Tex. Gov't Code § 1507.051 · Subchapter B. REFUNDING OF REFUNDING BONDS ISSUED UNDER BANKRUPTCY PLAN
AUTHORITY TO ISSUE REFUNDING BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The governing body of a municipality by ordinance may issue refunding bonds in accordance with Subchapters A and D, Chapter 1207, to refund outstanding refunding bonds if:
(1) the bonds to be refunded were issued under a plan for the adjustment of the municipality's debts confirmed by a bankruptcy court under Title 11, United States Code; and
(2) the bonds do not mature in annual installments.
(b) The governing body of a municipality that issues bonds under this subchapter to refund revenue bonds may secure the bonds issued under this subchapter by a deed of trust on the municipality's utility system or by a pledge of the net revenue of the system if the bonds being refunded provide for that pledge.
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.1507.htm
- Text hash
- sha256 f97f146970518e4e4031feb46e1c1069267d71015523fb4889edbb9854aec066
- 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
This section cites
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