Tex. Spec. Dist. Local Laws Code § 8501.269 · Subchapter F. OBLIGATIONS RELATING TO BORROWED MONEY
REFUNDING OBLIGATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The authority may authorize and issue, on terms the board considers advisable, a refunding obligation to provide for the retirement of an outstanding obligation issued by the authority under this chapter. The refunding obligation:
(1) may be issued for an obligation that is due or to become due; and
(2) is subject to the provisions of this chapter relating to the issuance of other obligations.
(b) A refunding obligation may be:
(1) exchanged for like par amounts of the outstanding obligation; or
(2) sold, with the proceeds being used to retire the outstanding obligation.
(c) The refunding obligation must be:
(1) secured in all respects to the same extent as other obligations issued under this chapter; and
(2) paid from the same revenue from which the refunded obligation was to be paid.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8501.htm
- Text hash
- sha256 52181a1d5026fc040f3bfdca12d8899c46a1e7fe84aefdc61bdaf7937a915e46
- 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.