Sec. 7805.154. REFUNDING BOND ELECTION. (a) The district may refund any outstanding bonds with the approval of district voters voting at an election held by the district.
(b) The election shall be held as provided by Chapter 7803. The ballot shall:
(1) be printed to provide for voting for or against the proposition: "For the issuance of refunding bonds and the levy of taxes in payment of those bonds."; and
(2) state the maximum interest rate and maturity applicable to the refunding bonds.
(c) The rate and maturity may exceed the maximum rate and maturity applicable to any outstanding bonds being refunded.
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.02, eff. April 1, 2015.
Section: Previous 7805.001 7805.002 7805.003 7805.051 7805.052 7805.053 7805.101 7805.102 7805.103 7805.151 7805.152 7805.153 7805.154Last modified: September 28, 2016