Authority To Issue Certificates of Indebtedness

Sec. 1501.151. AUTHORITY TO ISSUE CERTIFICATES OF INDEBTEDNESS. The governing body of a general-law municipality may authorize the issuance of certificates of indebtedness to pay: (1) a final judgment of a court in a lawsuit arising from the municipality's operation of a natural gas system the municipality owns; or (2) a settlement of such a lawsuit. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.