Sec. 107.008. ADDITIONAL AUTHORITY; CREDIT AGREEMENTS. (a) In this section, "credit agreement" and "obligation" have the meanings assigned by Section 1371.001, Government Code.
(b) The governing body of a municipality that issues obligations under Section 107.003 may exercise any of the rights or powers of the governing body of an issuer under Chapter 1371, Government Code, and may enter into a credit agreement under that chapter. An obligation issued under Section 107.003 is an obligation under Chapter 1371, Government Code, but is not required to be rated as required by that chapter.
Added by Acts 2003, 78th Leg., ch. 1271, Sec. 1, eff. Sept. 1, 2003.
Structure Texas Statutes
Subtitle A - Municipal Finances
Chapter 107 - Obligations for Certain Liabilities to Public Pension Funds of a Municipality
Section 107.002. Definition of "Public Pension Fund
Section 107.003. Pension Fund Obligations Authorized
Section 107.0036. Voter Approval Required for Certain Pension Fund Obligations
Section 107.004. Proceeds of Obligations Issued
Section 107.005. Payment of Obligations
Section 107.006. Obligation as Refinancing
Section 107.007. Sale of Obligations; Maturity