{"data":{"id":"us-tx/tex.-government-code-1507.051","jurisdiction":"us-tx","citation":"Tex. Government Code § 1507.051","heading":"AUTHORITY TO ISSUE REFUNDING BONDS.","body":"(a) The governing body of a municipality by ordinance may issue refunding bonds in accordance with Subchapters A and D, Chapter 1207, to refund outstanding refunding bonds if:\n(1) the bonds to be refunded were issued under a plan for the adjustment of the municipality's debts confirmed by a bankruptcy court under Title 11, United States Code; and\n(2) the bonds do not mature in annual installments.\n(b) The governing body of a municipality that issues bonds under this subchapter to refund revenue bonds may secure the bonds issued under this subchapter by a deed of trust on the municipality's utility system or by a pledge of the net revenue of the system if the bonds being refunded provide for that pledge.\nAdded by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.","path":["GOVERNMENT CODE","TITLE 9. PUBLIC SECURITIES","SUBTITLE J. SPECIFIC AUTHORITY FOR MUNICIPALITIES TO ISSUE SECURITIES","CHAPTER 1507. OBLIGATIONS RELATING TO MUNICIPAL DEBT AND EXPENSES","SUBCHAPTER B. REFUNDING OF REFUNDING BONDS ISSUED UNDER BANKRUPTCY PLAN"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1507.htm#1507.051","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"d0c3c85d0d3d7feb0f36321e675d9fcfb1068e29b633805e364d68c56ca3cdb1","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-1507.003","next":"us-tx/tex.-government-code-1507.052"},"notice":"GroundRules: Original legal text. Not legal advice."}