Tex. Loc. Gov't Code § 254.084

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 254.084 - Terms of Issuance of Revenue Refunding Obligations

(a) Revenue refunding obligations may:

(1) be combined with new or original revenue obligations into one series or issue;

(2) be issued to refund obligations of more than one series or issue;

(3) combine the pledges securing the obligations to be refunded to secure the revenue refunding obligations; or

(4) be secured by a pledge of other or additional net revenue.

(b) A revenue refunding obligation may bear interest at a rate higher than that of the obligation to be refunded.

Tex. Loc. Gov't. Code § 254.084

Added by Acts 1999, 76th Leg., ch. 227, Sec. 9, eff. 9/1/1999.