Sec. 254.084. TERMS OF ISSUANCE OF REVENUE REFUNDING OBLIGATIONS. (a) Revenue refunding obligations may:
(1) be combined with new or original revenue obligations into one series or issue;
(2) be issued to refund obligations of more than one series or issue;
(3) combine the pledges securing the obligations to be refunded to secure the revenue refunding obligations; or
(4) be secured by a pledge of other or additional net revenue.
(b) A revenue refunding obligation may bear interest at a rate higher than that of the obligation to be refunded.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 9, eff. Sept. 1, 1999.
Structure Texas Statutes
Title 8 - Acquisition, Sale, or Lease of Property
Subtitle A - Municipal Acquisition, Sale, or Lease of Property
Chapter 254 - Acquisition and Development of Island Property
Subchapter D. Refunding Obligations
Section 254.081. Applicability of Law Relating to Original Obligations
Section 254.082. Authority to Issue Tax Refunding Obligations
Section 254.083. Authority to Issue Revenue Refunding Obligations
Section 254.084. Terms of Issuance of Revenue Refunding Obligations
Section 254.085. Registration of Refunding Obligations by Comptroller