{"data":{"id":"us-tx/tex.-special-district-local-laws-code-8501.269","jurisdiction":"us-tx","citation":"Tex. Special District Local Laws Code § 8501.269","heading":"REFUNDING OBLIGATION.","body":"(a) The authority may authorize and issue, on terms the board considers advisable, a refunding obligation to provide for the retirement of an outstanding obligation issued by the authority under this chapter. The refunding obligation:\n(1) may be issued for an obligation that is due or to become due; and\n(2) is subject to the provisions of this chapter relating to the issuance of other obligations.\n(b) A refunding obligation may be:\n(1) exchanged for like par amounts of the outstanding obligation; or\n(2) sold, with the proceeds being used to retire the outstanding obligation.\n(c) The refunding obligation must be:\n(1) secured in all respects to the same extent as other obligations issued under this chapter; and\n(2) paid from the same revenue from which the refunded obligation was to be paid.\nActs 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.","path":["SPECIAL DISTRICT LOCAL LAWS CODE","TITLE 6. WATER AND WASTEWATER","SUBTITLE G. RIVER AUTHORITIES","CHAPTER 8501. ANGELINA AND NECHES RIVER AUTHORITY","SUBCHAPTER F. OBLIGATIONS RELATING TO BORROWED MONEY"],"source_url":"https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8501.htm#8501.269","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:41Z","sha256":"b5e65c09fea1ab8730875224081a08369afd1d8c193ae14c7b125f7e386bc1f3","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-special-district-local-laws-code-8501.268","next":"us-tx/tex.-special-district-local-laws-code-8501.270"},"notice":"GroundRules: Original legal text. Not legal advice."}