Sec. 1501.151. AUTHORITY TO ISSUE CERTIFICATES OF INDEBTEDNESS. The governing body of a general-law municipality may authorize the issuance of certificates of indebtedness to pay:
(1) a final judgment of a court in a lawsuit arising from the municipality's operation of a natural gas system the municipality owns; or
(2) a settlement of such a lawsuit.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle J - Specific Authority for Municipalities to Issue Securities
Chapter 1501 - Obligations for Municipal Utilities
Section 1501.151. Authority to Issue Certificates of Indebtedness
Section 1501.152. Notice of Intention to Issue Certificates of Indebtedness
Section 1501.153. Petition; Election
Section 1501.155. Signatures; Seal
Section 1501.156. Sale of Certificates