Texas § 1507.101 AUTHORITY TO ISSUE REFUNDING BONDS.

Texas Statutes

§ 1507.101 — AUTHORITY TO ISSUE REFUNDING BONDS.

Texas § 1507.101

Code GVGovernment Code

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Bluebook

Tex. Government Code Code Ann. § 1507.101 (2026).

Text

Sec. 1507.101. AUTHORITY TO ISSUE REFUNDING BONDS. 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:

(1)that:

(A)a federal court by decree adjudicated to be valid; or

(B)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)that were issued under the authority of an ordinance specifying a minimum fixed tax rate to be imposed in each year during which any of those bonds or interest on those bonds is outstanding.

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Sec. 1507.101. AUTHORITY TO ISSUE REFUNDING BONDS. 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:
(1) that:
(A) a federal court by decree adjudicated to be valid; or
(B) 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) that were issued under the authority of an ordinance specifying a minimum fixed tax rate to be imposed in each year during which any of those bonds or interest on those bonds is outstanding.