Sec. 1507.202. AUTHORITY TO ISSUE NOTES. A municipality may issue notes to fund or refund outstanding warrants that were drawn against the municipality's general fund for general operating expenses and issued during the calendar year preceding the calendar year in which the notes are issued.
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 1507 - Obligations Relating to Municipal Debt and Expenses
Section 1507.201. Applicability of Subchapter
Section 1507.202. Authority to Issue Notes
Section 1507.204. Authority to Pass Ordinances and Resolutions
Section 1507.207. Payment of Warrants While Notes Are Outstanding