Tex. Spec. Dist. Local Laws Code § 9015.363 · Subchapter H. BONDS
REFUNDING BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The authority may issue refunding bonds to refund outstanding bonds issued under this subchapter and interest on those bonds.
(b) Refunding bonds may:
(1) be issued to refund bonds of more than one series;
(2) combine the pledges for the outstanding bonds for the security of the refunding bonds; or
(3) be secured by a pledge of other or additional revenue or mortgage liens.
(c) The provisions of this subchapter regarding the issuance of other bonds, their security, and the remedies of the holders apply to refunding bonds.
(d) The comptroller shall register the refunding bonds on surrender and cancellation of the bonds to be refunded.
(e) Instead of issuing bonds to be registered on the surrender and cancellation of the bonds to be refunded, the authority, in the resolution authorizing the issuance of the refunding bonds, may provide for the sale of the refunding bonds and the deposit of the proceeds in a bank at which the bonds to be refunded are payable. In that case, the refunding bonds may be issued in an amount sufficient to pay the principal of and interest on the bonds to be refunded to their option date or maturity date, and the comptroller shall register the refunding bonds without the surrender and cancellation of the bonds to be refunded.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.12, eff. April 1, 2009.
Renumbered from Special District Local Laws Code, Section 9009.363 by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 27.001(85), eff. September 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.9015.htm
- Text hash
- sha256 f1e90bc82b13d2c218f034a776a8a08a465235973ebdf549067c853c38b322e3
- 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.