Tex. Local Gov't Code Section 107.008
Additional Authority; Credit Agreements

(a)

In this section, “credit agreement” and “obligation” have the meanings assigned by Section 1371.001 (Definitions), Government Code.

(b)

The governing body of a municipality that issues obligations under Section 107.003 (Pension Fund Obligations Authorized) may exercise any of the rights or powers of the governing body of an issuer under Chapter 1371 (Obligations for Certain Public Improvements), Government Code, and may enter into a credit agreement under that chapter. An obligation issued under Section 107.003 (Pension Fund Obligations Authorized) is an obligation under Chapter 1371 (Obligations for Certain Public Improvements), Government Code, but is not required to be rated as required by that chapter.
Added by Acts 2003, 78th Leg., ch. 1271, Sec. 1, eff. Sept. 1, 2003.

Source: Section 107.008 — Additional Authority; Credit Agreements, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­107.­htm#107.­008 (accessed Apr. 29, 2024).

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Accessed:
Apr. 29, 2024

§ 107.008’s source at texas​.gov