Texas § 1507.051 AUTHORITY TO ISSUE REFUNDING BONDS.

Texas Statutes

§ 1507.051 — AUTHORITY TO ISSUE REFUNDING BONDS.

Texas § 1507.051

Code GVGovernment Code

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Bluebook

Tex. Government Code Code Ann. § 1507.051 (2026).

Text

Sec. 1507.051. AUTHORITY TO ISSUE REFUNDING BONDS.

(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.

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Sec. 1507.051. AUTHORITY TO ISSUE REFUNDING BONDS. (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.