Texas § 8501.269 REFUNDING OBLIGATION.

Texas Statutes

§ 8501.269 — REFUNDING OBLIGATION.

Texas § 8501.269

Code SDSpecial District Local Laws Code

This text of Texas § 8501.269 (REFUNDING OBLIGATION.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Special District Local Laws Code Code Ann. § 8501.269 (2026).

Text

Sec. 8501.269. REFUNDING OBLIGATION.

(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 th

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Sec. 8501.269. REFUNDING OBLIGATION. (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.