Texas § 9092.0513 REFUNDING BONDS.

Texas Statutes

§ 9092.0513 — REFUNDING BONDS.

Texas § 9092.0513

Code SDSpecial District Local Laws Code

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Bluebook

Tex. Special District Local Laws Code Code Ann. § 9092.0513 (2026).

Text

Text of section effective on April 01, 2027 Sec. 9092.0513. REFUNDING BONDS.

(a)The district may issue refunding bonds to refund outstanding bonds issued under this chapter and interest on those bonds.

(b)Refunding bonds may:

(1)be issued to refund bonds of more than one series and combine the pledges for the outstanding bonds for the security of the refunding bonds; and

(2)be secured by a pledge of other or additional revenue or mortgage liens.

(c)The provisions of this chapter 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 t

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Text of section effective on April 01, 2027
Sec. 9092.0513. REFUNDING BONDS. (a) The district may issue refunding bonds to refund outstanding bonds issued under this chapter and interest on those bonds.
(b) Refunding bonds may:
(1) be issued to refund bonds of more than one series and combine the pledges for the outstanding bonds for the security of the refunding bonds; and
(2) be secured by a pledge of other or additional revenue or mortgage liens.
(c) The provisions of this chapter 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 district, 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 were 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 effective option date or maturity date, and the comptroller shall register the refunding bonds without the concurrent surrender and cancellation of the bonds to be refunded.