(a) A county may not issue certificates to refinance or refund the debt evidenced
by certificates issued by the county unless the county complies with the notice requirements
of Sections 271.049(a) and (b) for the issuance of certificates.
(b) If, before the date tentatively set for the authorization of refinancing certificates,
the county clerk receives a petition that meets the requirements of Subsection (c)
protesting the issuance of the refinancing certificates, the county may not authorize
the issuance of the refinancing certificates unless the issuance is approved at an
election ordered, held, and conducted in the manner provided for bond elections under
Chapter 1251, Government Code.
(c) A petition to protest the issuance of refinancing certificates under this section
must be signed by a number of qualified voters, residing in the county, equal to at
least five percent of the number of votes cast in that county for governor in the
most recent general election at which that office was filled.
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