Sec. 1471.051. ALTERNATE REFUNDING BONDS AND CERTIFICATES OF ASSESSMENT AUTHORIZED. A road district may issue refunding bonds or certificates of assessment under this subchapter to refinance any portion of any outstanding bonded indebtedness if:
(1) the district receives a petition that:
(A) requests the issuance of the bonds or certificates; and
(B) is signed by persons who own taxable real property in the district that in total is valued at an amount at least equal to 66 percent of the appraised value of all taxable real property in the district, as determined by the most recent certified appraisal roll of the appraisal district in which the property is located; and
(2) the district determines, after notice and public hearing held in accordance with this subchapter, that the property in the district will benefit from the refinancing.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle I - Specific Authority for Counties to Issue Securities
Chapter 1471 - Bonds for County Roads
Subchapter C. Refinancing Road District Bonds Through Assessments
Section 1471.051. Alternate Refunding Bonds and Certificates of Assessment Authorized
Section 1471.052. Assessment as Security
Section 1471.054. Preparation of Assessment
Section 1471.055. Notice of Hearing
Section 1471.056. Imposition of Assessment
Section 1471.057. Appeal of Assessment
Section 1471.058. Reassessment
Section 1471.059. Adjustment of Values Following Reassessment
Section 1471.060. Lien for Unpaid Assessment