reglab/statecodes huggingface dataset:
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.109. Adoption and Execution of Documents

Sec. 1506.109.  ADOPTION AND EXECUTION OF DOCUMENTS.  The municipality may adopt and have executed any other proceeding or instrument necessary or convenient to the issuance of bonds under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.110. Maturity

Sec. 1506.110.  MATURITY.  A bond issued under this subchapter must mature not later than 40 years after its date.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.111. Signatures

Sec. 1506.111.  SIGNATURES.  A bond issued under this subchapter must be signed by the mayor of the municipality and countersigned by the secretary or clerk of the municipality.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.112. Sale of Bonds

Sec. 1506.112.  SALE OF BONDS.  A municipality may sell bonds issued under this subchapter under the terms determined by the governing body of the municipality to be the most advantageous and reasonably obtainable.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.113. Investment of Bond Proceeds and Funds

Sec. 1506.113.  INVESTMENT OF BOND PROCEEDS AND FUNDS.  (a)  The bond proceeds, until they are needed to implement the purpose for which the bonds were issued, may be invested in direct obligations of the United States, placed on time deposit, or both.
(b)  Money in an interest and sinking fund, reserve fund, or any other fund established or provided for in the bond ordinance may be invested in the manner and in the securities as provided in the bond ordinance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.114. Charges for Services

Sec. 1506.114.  CHARGES FOR SERVICES.  The governing body of a municipality shall impose and collect charges for services provided in connection with a parking improvement the revenue of which is pledged to secure bonds issued under this subchapter in amounts at least sufficient to comply with each covenant or provision in the ordinance authorizing the issuance of the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.115. Refunding Bonds

Sec. 1506.115.  REFUNDING BONDS.  (a)  The governing body of a municipality by ordinance may issue revenue refunding bonds to refund bonds, including revenue refunding bonds, issued under this subchapter.
(b)  Refunding bonds issued under this section must be executed and mature as provided by this subchapter for original bonds.
(c)  The comptroller shall register refunding bonds on surrender and cancellation of the bonds to be refunded.
(d)  The comptroller shall register refunding bonds without the surrender and cancellation of the bonds to be refunded if the ordinance authorizing the issuance of the refunding bonds requires the obligation to be sold and the proceeds from the sale to be deposited in a place where the bonds to be refunded are payable.
(e)  Refunding bonds to which Subsection (d) applies may be issued in an amount sufficient to pay:
(1)  the principal of the bonds to be refunded;  and
(2)  the interest on the bonds to be refunded to the option or maturity date of the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter C. Revenue Bonds for Parking Improvements in Certain Coastal Municipalities › Section 1506.116. Conflict or Inconsistency With Municipal Charter

Sec. 1506.116.  CONFLICT OR INCONSISTENCY WITH MUNICIPAL CHARTER.  To the extent of a conflict or inconsistency between this subchapter and a municipal charter, this subchapter controls.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter D. Revenue Bonds for Parking and Transportation Facilities in Municipalities With Population of More Than 1.1 Million › Section 1506.151. Applicability of Subchapter

Sec. 1506.151.  APPLICABILITY OF SUBCHAPTER.  This subchapter applies only to a municipality with a population of more than 1.1 million.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 669, Sec. 30, eff. Sept. 1, 2001.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter D. Revenue Bonds for Parking and Transportation Facilities in Municipalities With Population of More Than 1.1 Million › Section 1506.152. Authority for Parking and Transportation Facilities

Sec. 1506.152.  AUTHORITY FOR PARKING AND TRANSPORTATION FACILITIES.  (a)  A municipality may acquire, lease as lessor or lessee, construct, improve, enlarge, equip, and operate:
(1)  an off-street parking facility;  or
(2)  a terminal or station and related properties and facilities for use by:
(A)  passengers, commuters, travelers, shippers, and other members of the public;  and
(B)  companies or individuals engaged in the business of transporting the public or freight by bus, truck, or rail.
(b)  A municipality may create an off-street parking system by combining one or more parking facilities established under Subsection (a) with one or more other parking facilities previously owned by the municipality or acquired under a law other than this subchapter that authorizes the municipality to own and operate parking facilities, whether or not the other facility or facilities are operated in connection with any other municipally owned facility.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter D. Revenue Bonds for Parking and Transportation Facilities in Municipalities With Population of More Than 1.1 Million › Section 1506.153. Contracts and Leases; Joint Development

Sec. 1506.153.  CONTRACTS AND LEASES;  JOINT DEVELOPMENT.  (a)  A municipality may contract with any person to perform any function related to a facility described by Section 1506.152(a).
(b)  A municipality may lease a facility or other property described by Section 1506.152(a) to any person on the terms approved by the governing body of the municipality, including the amounts of rental, revenue, and payments and the period of years.
(c)  A facility or other property described by Section 1506.152(a) may be developed with another public or private development under an agreement with the owner of the development on the terms approved by the municipality.  The municipality may include as a part of an agreement the provisions the municipality determines are appropriate for the use, lease, or sale of any part of the subsurface, or airspace above the surface, of the municipality's property that the municipality determines is not necessary for the purposes of the facility or other property.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter D. Revenue Bonds for Parking and Transportation Facilities in Municipalities With Population of More Than 1.1 Million › Section 1506.154. Authority to Issue Revenue Bonds

Sec. 1506.154.  AUTHORITY TO ISSUE REVENUE BONDS.  (a)  The governing body of a municipality by ordinance may issue revenue bonds for a purpose authorized by Section 1506.152(a).
(b)  A municipality that proposes to create an off-street parking system under Section 1506.152(b) may by ordinance issue bonds for the purposes of creating, extending, or improving the system to the same extent otherwise provided by this subchapter for bonds issued for a single parking facility.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter D. Revenue Bonds for Parking and Transportation Facilities in Municipalities With Population of More Than 1.1 Million › Section 1506.155. Pledge of Revenue

Sec. 1506.155.  PLEDGE OF REVENUE.  (a)  A municipality may pledge all or part of the revenue, income, or receipts from the charges authorized by Section 1506.161 to the payment of bonds issued under Section 1506.154(a), including principal, interest, and any other amounts required or permitted in connection with the bonds.
(b)  A municipality may pledge to the payment of bonds issued under Section 1506.154(b) all or part of the revenue, income, or receipts from:
(1)  the ownership or operation of any facility included in the municipality's parking system established under Section 1506.152(b);  or
(2)  parking meters on or adjacent to the public streets of the municipality.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter D. Revenue Bonds for Parking and Transportation Facilities in Municipalities With Population of More Than 1.1 Million › Section 1506.156. Additional Security

Sec. 1506.156.  ADDITIONAL SECURITY.  (a)  Bonds issued under this subchapter may be additionally secured by:
(1)  an encumbrance on any real property relating to a facility authorized by this subchapter owned or to be acquired by the municipality;
(2)  an encumbrance on any personal property appurtenant to that real property;  or
(3)  a pledge of any portion of a grant, donation, revenue, or income received or to be received from the United States or any other public or private source.
(b)  The governing body of the municipality may authorize the execution of a trust indenture, mortgage, deed of trust, or other instrument as evidence of the encumbrance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter D. Revenue Bonds for Parking and Transportation Facilities in Municipalities With Population of More Than 1.1 Million › Section 1506.157. Maturity

Sec. 1506.157.  MATURITY.  A bond issued under this subchapter must mature not later than 40 years after its date.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter D. Revenue Bonds for Parking and Transportation Facilities in Municipalities With Population of More Than 1.1 Million › Section 1506.158. Additional Bonds

Sec. 1506.158.  ADDITIONAL BONDS.  The ordinance authorizing the issuance of bonds under this subchapter may provide for the subsequent issuance of additional parity bonds or subordinate lien bonds under terms specified in the ordinance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter D. Revenue Bonds for Parking and Transportation Facilities in Municipalities With Population of More Than 1.1 Million › Section 1506.159. Sale of Bonds

Sec. 1506.159.  SALE OF BONDS.  A municipality may sell bonds issued under this subchapter in the manner and under the terms provided by the ordinance authorizing the issuance of the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter D. Revenue Bonds for Parking and Transportation Facilities in Municipalities With Population of More Than 1.1 Million › Section 1506.160. Review and Approval of Contracts Relating to Bonds

Sec. 1506.160.  REVIEW AND APPROVAL OF CONTRACTS RELATING TO BONDS.  (a)  If bonds issued under this subchapter state that they are secured by a pledge of revenue or rents from a contract, including a lease contract, a copy of the contract and the proceedings related to it must be submitted to the attorney general.
(b)  If the attorney general finds that the bonds have been authorized and the contract has been made in accordance with law, the attorney general shall approve the contract.
(c)  After the bonds are approved and registered as provided by Chapter 1202 and the contract is approved as provided by Subsection (b), the contract is incontestable in a court or other forum for any reason and is a valid and binding obligation for all purposes in accordance with its terms.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter D. Revenue Bonds for Parking and Transportation Facilities in Municipalities With Population of More Than 1.1 Million › Section 1506.161. Charges

Sec. 1506.161.  CHARGES.  (a)  The governing body of a municipality may impose and collect charges for the use or availability of a facility or other property described by Section 1506.152(a) in the amounts and manner determined by the governing body.
(b)  A municipality shall impose pledged charges in amounts that will be at least sufficient, with any other pledged resources, to provide for the payment of:
(1)  the principal of, interest on, and any other amounts required in connection with the bonds to which the charges are pledged;  and
(2)  to the extent required by the ordinance authorizing the issuance of the bonds:
(A)  expenses incurred in connection with the bonds;  and
(B)  operation, maintenance, and other expenses incurred in connection with the facility.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter D. Revenue Bonds for Parking and Transportation Facilities in Municipalities With Population of More Than 1.1 Million › Section 1506.162. Refunding Bonds

Sec. 1506.162.  REFUNDING BONDS.  (a)  A municipality may refund or otherwise refinance bonds issued under this subchapter by issuing refunding bonds under any terms provided by ordinance of the governing body of the municipality.
(b)  All appropriate provisions of this subchapter apply to the refunding bonds.  The refunding bonds shall be issued in the manner provided by this subchapter for other bonds.
(c)  The refunding bonds may be sold and delivered in amounts sufficient to pay the principal of and interest and any redemption premium on the bonds to be refunded, at maturity or on any redemption date.
(d)  The refunding bonds may be issued to be exchanged for the bonds being refunded by them.  In that case, the comptroller shall register the refunding bonds and deliver them to the holder of the bonds being refunded as provided by the ordinance authorizing the refunding bonds.  The exchange may be made in one delivery or in installment deliveries.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter D. Revenue Bonds for Parking and Transportation Facilities in Municipalities With Population of More Than 1.1 Million › Section 1506.163. Public Purpose

Sec. 1506.163.  PUBLIC PURPOSE.  The acquisition, construction, improvement, enlargement, equipment, operation, and maintenance of a facility or other property described by Section 1506.152(a) is a public purpose and proper municipal function.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1506 - Bonds for Municipal Parking and Transportation Facilities › Subchapter D. Revenue Bonds for Parking and Transportation Facilities in Municipalities With Population of More Than 1.1 Million › Section 1506.164. Conflict or Inconsistency With Other Law

Sec. 1506.164.  CONFLICT OR INCONSISTENCY WITH OTHER LAW.  (a)  When bonds are issued under this subchapter, to the extent of any conflict or inconsistency between this subchapter and another law, this subchapter controls.
(b)  This subchapter is cumulative of all other law on the subject, but this subchapter is wholly sufficient authority within itself for the issuance of bonds and the performance of the other acts and procedures authorized by this subchapter without reference to any other law or any restrictions or limitations contained in that law, except as specifically provided by this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 1999, 76th Leg., ch. 1064, Sec. 23, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 A. Bonds for Payment of Judgments › Section 1507.001. Authority to Issue Bonds

Sec. 1507.001.  AUTHORITY TO ISSUE BONDS.  A municipality may issue, sell, and deliver bonds in an amount sufficient to pay a final judgment of a court, plus the interest and the costs and expenses connected with the judgment, if:
(1)  the judgment is against the municipality or the payment of the judgment is the legal responsibility of the municipality;
(2)  the judgment awards the plaintiff an amount in cash;  and
(3)  the municipality does not have money available to pay the amount of the judgment plus the interest and the cost and expenses connected with the judgment or decree.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 A. Bonds for Payment of Judgments › Section 1507.002. Election

Sec. 1507.002.  ELECTION.  (a)  A municipality may not issue bonds under this subchapter unless the bonds are authorized by a majority vote of the qualified voters of the municipality voting at an election held for that purpose.
(b)  A municipality shall hold an election to issue bonds under this subchapter in the manner provided for other bond elections in the municipality.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 A. Bonds for Payment of Judgments › Section 1507.003. Maturity

Sec. 1507.003.  MATURITY.  A bond issued under this subchapter must mature not later than 40 years after its date.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 › Section 1507.051. Authority to Issue Refunding Bonds

Sec. 1507.051.  AUTHORITY TO ISSUE REFUNDING BONDS.  (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:
(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
(2)  the bonds do not mature in annual installments.
(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.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 › Section 1507.052. Sale of Bonds

Sec. 1507.052.  SALE OF BONDS.  (a)  Instead of exchanging refunding bonds issued under this subchapter for the bonds being refunded, a municipality may, at any time after calling the bonds being refunded for redemption in the manner provided in those bonds, sell the refunding bonds or the unexchanged portion of the refunding bonds.
(b)  The municipality shall deposit the principal amount received from the sale of the refunding bonds, and the additional amount necessary to pay the interest to the call date, with the bank at which the bonds being refunded are payable.
(c)  The municipality shall send to the comptroller a certified copy of the ordinance authorizing the refunding bonds.  The comptroller shall register the refunding bonds without the cancellation of the bonds being refunded and shall deliver the refunding bonds as provided in the ordinance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 › Section 1507.053. Signatures

Sec. 1507.053.  SIGNATURES.  A bond issued under this subchapter must be signed by the mayor of the municipality and the secretary or clerk of the municipality.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 › Section 1507.054. Applicability of Municipal Charter

Sec. 1507.054.  APPLICABILITY OF MUNICIPAL CHARTER.  A provision of a municipal charter relating to the terms, issuance, sale, or delivery of bonds does not apply to a bond issued under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 C. Refunding of Refunding Bonds Adjudicated as Valid or Issued Under Bankruptcy Plan › Section 1507.101. Authority to Issue Refunding Bonds

Sec. 1507.101.  AUTHORITY TO ISSUE REFUNDING BONDS.  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:
(1)  that:
(A)  a federal court by decree adjudicated to be valid;  or
(B)  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
(2)  that were issued under the authority of an ordinance specifying a minimum fixed tax rate to be imposed in each year during which any of those bonds or interest on those bonds is outstanding.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 C. Refunding of Refunding Bonds Adjudicated as Valid or Issued Under Bankruptcy Plan › Section 1507.102. Sale of Bonds

Sec. 1507.102.  SALE OF BONDS.  (a)  Instead of exchanging refunding bonds issued under this subchapter for the bonds being refunded, a municipality may sell the refunding bonds or the unexchanged portion of the refunding bonds.
(b)  The municipality shall deposit the principal amount received from the sale of the refunding bonds, and the additional amount necessary to pay the interest to the call date or maturity dates, with the bank at which the original refunding bonds are payable.
(c)  The municipality shall send to the comptroller a certified copy of the ordinance authorizing the refunding bonds.  The comptroller shall register the refunding bonds without the cancellation of the bonds being refunded and shall deliver the refunding bonds as provided in the ordinance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 C. Refunding of Refunding Bonds Adjudicated as Valid or Issued Under Bankruptcy Plan › Section 1507.103. Signatures

Sec. 1507.103.  SIGNATURES.  A bond issued under this subchapter must be signed by the mayor of the municipality and the secretary or clerk of the municipality.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 C. Refunding of Refunding Bonds Adjudicated as Valid or Issued Under Bankruptcy Plan › Section 1507.104. Applicability of Municipal Charter

Sec. 1507.104.  APPLICABILITY OF MUNICIPAL CHARTER.  A provision of a municipal charter relating to the terms, issuance, sale, or delivery of bonds does not apply to a bond issued under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 D. Tax Bonds for Payment of Current Expenses › Section 1507.151. Authority to Issue Bonds

Sec. 1507.151.  AUTHORITY TO ISSUE BONDS.  (a)  The governing body of a municipality by ordinance may issue bonds secured by and payable from ad valorem taxes to provide for the payment of all or part of the municipality's current expenses for a fiscal year if:
(1)  in that fiscal year the municipality has lost or is likely to lose an amount that is:
(A)  more than $15 million;  and
(B)  more than 15 percent of the municipality's budget for the fiscal year, not including the amount necessary for debt service;  and
(2)  the loss or potential loss is the result of a person who received municipal funds seeking or acceding to protection under Title 11, United States Code.
(b)  A determination by the municipality's governing body that a loss has occurred or is likely to occur, or of the amount of a loss or anticipated loss, is conclusive.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 D. Tax Bonds for Payment of Current Expenses › Section 1507.152. Pledge of Tax

Sec. 1507.152.  PLEDGE OF TAX.  The governing body may pledge to the payment of the bonds issued under this subchapter an ad valorem tax sufficient to pay when due the principal of and interest on the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 D. Tax Bonds for Payment of Current Expenses › Section 1507.153. Election

Sec. 1507.153.  ELECTION.  The governing body of a municipality may issue bonds under this subchapter without an election.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 D. Tax Bonds for Payment of Current Expenses › Section 1507.154. Limitation

Sec. 1507.154.  LIMITATION.  A municipality may not issue bonds under this subchapter in a principal amount that:
(1)  exceeds the amount of loss sustained or anticipated by the municipality and the cost of issuing the bonds;  or
(2)  would result in the outstanding aggregate principal amount of tax bond indebtedness of the municipality exceeding 10 percent of the assessed valuation of taxable property in the municipality according to the most recent ad valorem tax roll of the municipality.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 D. Tax Bonds for Payment of Current Expenses › Section 1507.155. Maturity

Sec. 1507.155.  MATURITY.  Bonds issued under this subchapter must mature not later than five years after their date of issuance as provided by the ordinance authorizing the issuance and sale of the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 D. Tax Bonds for Payment of Current Expenses › Section 1507.156. Sale of Bonds

Sec. 1507.156.  SALE OF BONDS.  A municipality may sell bonds issued under this subchapter at a public or private sale as provided by the ordinance authorizing the issuance and sale of the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 D. Tax Bonds for Payment of Current Expenses › Section 1507.157. No Waiver of Claims

Sec. 1507.157.  NO WAIVER OF CLAIMS.  (a)  A municipality's action under this subchapter does not affect or abrogate any claim the municipality may have with respect to a loss described by Section 1507.151.
(b)  A municipality that issues bonds under this subchapter:
(1)  does not waive any claim of the municipality;
(2)  is not estopped from recovering on a claim of the municipality;  and
(3)  does not ratify any prior action by the municipality in connection with the loss.
(c)  A municipality may reserve any claim the municipality may have in its action authorizing the bonds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 D. Tax Bonds for Payment of Current Expenses › Section 1507.158. Redemption of Bonds

Sec. 1507.158.  REDEMPTION OF BONDS.  After the recovery of a loss described by Section 1507.151 or the failure of an anticipated loss described by Section 1507.151 to occur, the governing body shall promptly redeem bonds issued to cover the loss or anticipated loss in a principal amount equal to the amount recovered or the amount of anticipated loss that did not occur.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 D. Tax Bonds for Payment of Current Expenses › Section 1507.159. Conflict With Municipal Charter

Sec. 1507.159.  CONFLICT WITH MUNICIPAL CHARTER.  To the extent of a conflict between this subchapter and a municipal charter, this subchapter controls.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 D. Tax Bonds for Payment of Current Expenses › Section 1507.160. Construction

Sec. 1507.160.  CONSTRUCTION.  This subchapter shall be liberally construed to achieve the legislative intent and purposes of this subchapter.  A power granted by this subchapter shall be broadly interpreted to achieve that intent and those purposes.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 E. Notes to Fund or Refund General Operating Expenses in Municipalities With a Population of 35,000 to 45,000 › Section 1507.201. Applicability of Subchapter

Sec. 1507.201.  APPLICABILITY OF SUBCHAPTER.  This subchapter applies only to a home-rule or special-law municipality with a population of 35,000 to 45,000.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 E. Notes to Fund or Refund General Operating Expenses in Municipalities With a Population of 35,000 to 45,000 › Section 1507.202. Authority to Issue Notes

Sec. 1507.202.  AUTHORITY TO ISSUE NOTES.  A municipality may issue notes to fund or refund outstanding warrants that were drawn against the municipality's general fund for general operating expenses and issued during the calendar year preceding the calendar year in which the notes are issued.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 E. Notes to Fund or Refund General Operating Expenses in Municipalities With a Population of 35,000 to 45,000 › Section 1507.203. Election

Sec. 1507.203.  ELECTION.  (a)  Before a municipality may issue notes under this subchapter, the governing body of the municipality shall order an election on the question of authorizing the governing body to issue the notes.
(b)  The governing body shall hold, give notice of, and declare the results of an election under this section in the manner provided by general law for bond elections in the municipality.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 E. Notes to Fund or Refund General Operating Expenses in Municipalities With a Population of 35,000 to 45,000 › Section 1507.204. Authority to Pass Ordinances and Resolutions

Sec. 1507.204.  AUTHORITY TO PASS ORDINANCES AND RESOLUTIONS.  If the issuance of the notes is authorized at the election, the governing body of the municipality may pass ordinances and resolutions for the issuance of the notes.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 E. Notes to Fund or Refund General Operating Expenses in Municipalities With a Population of 35,000 to 45,000 › Section 1507.205. Maturity

Sec. 1507.205.  MATURITY.  A note issued under this subchapter must mature not later than 10 years after its date.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 E. Notes to Fund or Refund General Operating Expenses in Municipalities With a Population of 35,000 to 45,000 › Section 1507.206. Pledge

Sec. 1507.206.  PLEDGE.  A municipality may pledge the full faith and credit of the municipality to the payment of a note issued under this subchapter and the interest on the note.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 E. Notes to Fund or Refund General Operating Expenses in Municipalities With a Population of 35,000 to 45,000 › Section 1507.207. Payment of Warrants While Notes Are Outstanding

Sec. 1507.207.  PAYMENT OF WARRANTS WHILE NOTES ARE OUTSTANDING.  If a warrant is drawn against the municipality's general fund during a calendar year in which a note issued under this subchapter is outstanding, the municipality shall pay the warrant from current funds appropriated for the purpose for which the warrant is drawn.  The municipality may not fund or refund the warrant.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 F. Bonds for Payment of Current Expenses in Municipalities With a Population of 161,000 or More › Section 1507.251. Applicability of Subchapter

Sec. 1507.251.  APPLICABILITY OF SUBCHAPTER.  This subchapter applies only to a municipality with a population of 161,000 or more.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 F. Bonds for Payment of Current Expenses in Municipalities With a Population of 161,000 or More › Section 1507.252. Authority to Issue Warrants or Notes

Sec. 1507.252.  AUTHORITY TO ISSUE WARRANTS OR NOTES.  (a)  The governing body of a municipality may issue warrants or notes drawn against the current revenues of the municipality for the fiscal year to:
(1)  provide for the payment of the municipality's expenses for the fiscal year in which the warrants or notes are issued or for any portion of that fiscal year;  or
(2)  refund the principal of and interest on warrants and notes issued under this subchapter.
(b)  Warrants and notes issued under this subchapter must be dated and numbered consecutively as issued.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 F. Bonds for Payment of Current Expenses in Municipalities With a Population of 161,000 or More › Section 1507.253. Pledge of Revenue; Payment

Sec. 1507.253.  PLEDGE OF REVENUE;  PAYMENT.  (a)  A warrant or note issued under this subchapter is a lien on:
(1)  the revenue of the municipality for the fiscal year during which the warrant or note is issued that is available for payment of the warrant or note;  or
(2)  a designated portion of that revenue.
(b)  A municipality shall pay a warrant or note:
(1)  consecutively according to its respective date and number as money for payment becomes available;  or
(2)  on a date during the fiscal year on which, in the estimate of the governing body, sufficient revenue will be available for payment of the warrant or note.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 F. Bonds for Payment of Current Expenses in Municipalities With a Population of 161,000 or More › Section 1507.254. Limitation on Amount of Warrants and Notes Issued

Sec. 1507.254.  LIMITATION ON AMOUNT OF WARRANTS AND NOTES ISSUED.  (a)  The governing body may not issue warrants or notes under this subchapter in an amount exceeding 80 percent of the difference between:
(1)  the estimated revenue of the municipality for the fiscal year;  and
(2)  the sum of:
(A)  the interest on the bonded indebtedness of the municipality to be paid from that revenue;  and
(B)  any amount that the municipality is required to pay from that revenue into a sinking fund, special fund, or special trust fund of the municipality.
(b)  The limitation prescribed by Subsection (a) does not apply to warrants or notes issued for refunding purposes.
(c)  The aggregate principal amount of warrants or notes issued under this subchapter and outstanding at any time in a fiscal year may not exceed the greatest amount by which the proposed expenditures for the fiscal year are estimated by the governing body to exceed the estimated revenue available for payment of warrants and notes during the fiscal year, as computed under Subsection (a).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › 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 F. Bonds for Payment of Current Expenses in Municipalities With a Population of 161,000 or More › Section 1507.255. Sale of Warrants or Notes

Sec. 1507.255.  SALE OF WARRANTS OR NOTES.  A municipality may sell warrants or notes issued under this subchapter at a public or private sale as provided in the ordinance authorizing the issuance and sale of the warrants or notes.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1508 - Obligations for Municipal Parks, Recreational Facilities, and Airports › Subchapter A. Obligations for Parks, Recreational Facilities, and Airports › Section 1508.001. Authority for Parks, Recreational Facilities, and Airports

Sec. 1508.001.  AUTHORITY FOR PARKS, RECREATIONAL FACILITIES, AND AIRPORTS.  (a)  A municipality may:
(1)  construct, purchase, or encumber:
(A)  a park, swimming pool, golf course, golf course clubhouse, or ballpark;
(B)  a fairground or an exposition building;
(C)  an airport;  or
(D)  land on which a facility described by Paragraphs (A)-(C) is located;  or
(2)  encumber anything acquired or to be acquired that relates to a facility or land constructed or purchased under Subdivision (1).
(b)  A municipality may secure the payment of funds to construct, purchase, or equip a facility or land described by Subsection (a)(1).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1508 - Obligations for Municipal Parks, Recreational Facilities, and Airports › Subchapter A. Obligations for Parks, Recreational Facilities, and Airports › Section 1508.002. Authority to Issue Bonds, Notes, and Warrants

Sec. 1508.002.  AUTHORITY TO ISSUE BONDS, NOTES, AND WARRANTS.  A municipality may issue bonds, notes, or warrants to provide the money to construct or purchase a facility or land described by Section 1508.001.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle J - Specific Authority for Municipalities to Issue Securities › Chapter 1508 - Obligations for Municipal Parks, Recreational Facilities, and Airports › Subchapter A. Obligations for Parks, Recreational Facilities, and Airports › Section 1508.003. Pledge of Income

Sec. 1508.003.  PLEDGE OF INCOME.  A municipality may pledge the income from a facility or land described by Section 1508.001 to the payment of obligations issued under this subchapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.