Texas Transportation Code - Section 54.154. Terms Of Issuance Of Revenue Refunding Obligations
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§ 54.154. TERMS OF ISSUANCE OF REVENUE REFUNDING
OBLIGATIONS. (a) Revenue refunding obligations may:
(1) be combined with new or original revenue
obligations into one series or issue;
(2) be issued to refund obligations of more than one
series or issue;
(3) combine the pledges securing the obligations to be
refunded to secure the revenue refunding obligations; or
(4) be secured by a pledge of other or additional net
revenue.
(b) A revenue refunding obligation may bear interest at a
rate higher than that of the obligation to be refunded.
Added by Acts 1999, 76th Leg., ch. 227, § 20, eff. Sept. 1, 1999.
Section: 54.111 54.112 54.113 54.114 54.151 54.152 54.153 54.154 54.155 54.156 55.001 55.002 55.003 55.004 55.005
Last modified: August 10, 2007
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