Tex. Gov't Code Section 1506.115
Refunding Bonds

(a)

The governing body of a municipality by ordinance may issue revenue refunding bonds to refund bonds, including revenue refunding bonds, issued under this subchapter.

(b)

Refunding bonds issued under this section must be executed and mature as provided by this subchapter for original bonds.

(c)

The comptroller shall register refunding bonds on surrender and cancellation of the bonds to be refunded.

(d)

The comptroller shall register refunding bonds without the surrender and cancellation of the bonds to be refunded if the ordinance authorizing the issuance of the refunding bonds requires the obligation to be sold and the proceeds from the sale to be deposited in a place where the bonds to be refunded are payable.

(e)

Refunding bonds to which Subsection (d) applies may be issued in an amount sufficient to pay:

(1)

the principal of the bonds to be refunded; and

(2)

the interest on the bonds to be refunded to the option or maturity date of the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

Source: Section 1506.115 — Refunding Bonds, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­1506.­htm#1506.­115 (accessed Jun. 5, 2024).

1506.001
Applicability of Subchapter 1506.002
Authority to Issue Revenue Bonds 1506.003
Pledge of Revenue 1506.004
Bonds Not Payable from Taxes 1506.005
Election 1506.006
Maturity 1506.007
Signatures 1506.008
Exemption from Taxation 1506.009
Personnel 1506.010
Fees for Services 1506.011
Additional Bonds 1506.051
Applicability of Subchapter 1506.052
Authority for Parking Facilities 1506.053
Authority to Establish Improvement Districts and Issue Bonds 1506.054
Election 1506.055
Form of Bond 1506.056
Sale of Bonds 1506.057
Interest and Sinking Fund Tax 1506.058
Proceeds of Tax 1506.059
Investment of Sinking Fund 1506.060
Eminent Domain 1506.061
Relocation or Alteration Expense 1506.101
Applicability of Subchapter 1506.102
Definition 1506.103
Authority for Parking Improvements 1506.104
Authority to Issue Revenue Bonds 1506.105
Pledge of Revenue 1506.106
Lien on Parking Improvement 1506.107
Bonds Not Payable from Taxes 1506.108
Contents of Ordinance Authorizing Bonds 1506.109
Adoption and Execution of Documents 1506.110
Maturity 1506.111
Signatures 1506.112
Sale of Bonds 1506.113
Investment of Bond Proceeds and Funds 1506.114
Charges for Services 1506.115
Refunding Bonds 1506.116
Conflict or Inconsistency with Municipal Charter 1506.151
Applicability of Subchapter 1506.152
Authority for Parking and Transportation Facilities 1506.153
Contracts and Leases 1506.154
Authority to Issue Revenue Bonds 1506.155
Pledge of Revenue 1506.156
Additional Security 1506.157
Maturity 1506.158
Additional Bonds 1506.159
Sale of Bonds 1506.160
Review and Approval of Contracts Relating to Bonds 1506.161
Charges 1506.162
Refunding Bonds 1506.163
Public Purpose 1506.164
Conflict or Inconsistency with Other Law
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Accessed:
Jun. 5, 2024

§ 1506.115’s source at texas​.gov