Sec. 317.154. TERMS OF ISSUANCE OF REVENUE REFUNDING BONDS. (a) Revenue refunding bonds may:
(1) be combined with new or original revenue bonds into one series or issue;
(2) be issued to refund bonds of more than one series or issue;
(3) combine the pledges securing the bonds to be refunded to secure the revenue refunding bonds; or
(4) be secured by a pledge of other or additional net revenue.
(b) Revenue refunding bonds may bear interest at a rate higher than that of the bonds to be refunded.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 24, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle E - Municipal Streets
Section 317.151. Applicability of Law Relating to Original Bonds
Section 317.152. Authority to Issue Tax Refunding Bonds
Section 317.153. Authority to Issue Revenue Refunding Bonds
Section 317.154. Terms of Issuance of Revenue Refunding Bonds
Section 317.155. Registration of Refunding Bonds by Comptroller