Tex. Gov't Code Section 1472.002
Authority to Issue Refunding Bonds

(a)

The commissioners court of the county may issue bonds to refund the outstanding bonds described by Section 1472.001 (Applicability of Chapter) and may impose ad valorem taxes to pay the interest on and to provide a sinking fund for the redemption of the refunding bonds only if the issuance of the bonds is approved by a majority of the qualified voters voting at an election held in the county in the manner provided by Chapter 1251 (Bond Elections).

(b)

The aggregate principal amount of outstanding refunding bonds issued under this section may not exceed an amount that, for the payment of the principal of and interest on the bonds, would require the county to impose ad valorem taxes at a rate greater than the 80-cent limitation established by Section 9, Article VIII, Texas Constitution.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

Source: Section 1472.002 — Authority to Issue Refunding Bonds, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­1472.­htm#1472.­002 (accessed May 11, 2024).

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Accessed:
May 11, 2024

§ 1472.002’s source at texas​.gov