Sec. 772.127. REFUNDING BONDS. (a) A district may issue bonds to refund all or any part of its outstanding bonds, including matured but unpaid interest coupons.
(b) Refunding bonds shall mature serially or otherwise not more than 25 years after their date of issue and shall bear interest at any rate or rates permitted by state law.
(c) Refunding bonds may be payable from the same source as the bonds being refunded or from other sources.
(d) The refunding bonds must be approved by the attorney general in the same manner as the district's other bonds and shall be registered by the comptroller on the surrender and cancellation of the bonds being refunded.
(e) The orders or resolutions authorizing the issuance of the refunding bonds may provide that they be sold and the proceeds deposited in the place or places at which the bonds being refunded are payable, in which case the refunding bonds may be issued before the cancellation of the bonds being refunded. If refunding bonds are issued before cancellation of the other bonds, an amount sufficient to pay the principal of the bonds being refunded and interest on those bonds accruing to their maturity dates or to their option dates if the bonds have been duly called for payment before maturity according to their terms shall be deposited in the place or places at which the bonds being refunded are payable. The comptroller shall register the refunding bonds without the surrender and cancellation of bonds being refunded.
(f) A refunding may be accomplished in one or in several installment deliveries. Refunding bonds and their interest coupons are investment securities under Chapter 8, Business & Commerce Code.
(g) In lieu of the method set forth in Subsections (a)-(f), a district may refund bonds, notes, or other obligations as provided by the general laws of the state.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Structure Texas Statutes
Chapter 772 - Local Administration of Emergency Communications
Subchapter B. Emergency Communication Districts: Counties With Population Over Two Million
Section 772.104. Application of Subchapter
Section 772.105. Territory of District
Section 772.106. Board of Managers
Section 772.107. Powers and Duties of Board
Section 772.108. Director of District
Section 772.109. Budget; Annual Report; Audit
Section 772.110. Establishment of 9-1-1 Service
Section 772.111. Primary Emergency Telephone Number
Section 772.112. Transmitting Requests for Emergency Aid
Section 772.113. Powers of District
Section 772.114. 9-1-1 Emergency Service Fee
Section 772.115. Collection of Fee
Section 772.116. District Depository
Section 772.117. Allowable Expenses
Section 772.118. Number and Location Identification
Section 772.119. Public Review
Section 772.120. Dissolution Procedures
Section 772.121. Issuance of Bonds
Section 772.122. Repayment of Bonds
Section 772.123. Additional Security for Bonds
Section 772.124. Form of Bonds
Section 772.125. Provisions of Bonds
Section 772.126. Approval and Registration of Bonds
Section 772.127. Refunding Bonds
Section 772.128. Bonds as Investments and Security for Deposits