Section 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.Tex. Gov't. Code § 1507.101
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.