Terms of Issuance of Revenue Refunding Bonds

Sec. 317.154. TERMS OF ISSUANCE OF REVENUE REFUNDING BONDS. (a) Revenue refunding bonds may: (1) be combined with new or original revenue bonds into one series or issue; (2) be issued to refund bonds of more than one series or issue; (3) combine the pledges securing the bonds to be refunded to secure the revenue refunding bonds; or (4) be secured by a pledge of other or additional net revenue. (b) Revenue refunding bonds may bear interest at a rate higher than that of the bonds to be refunded. Added by Acts 1999, 76th Leg., ch. 227, Sec. 24, eff. Sept. 1, 1999.