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This subchapter applies only to a home-rule municipality that owns an electric utility system, that by ordinance or charter elects to have the management and control of the utility system governed by a board of trustees, and that:
(1) has outstanding obligations payable in whole or in part from and secured by a lien on and pledge of the net revenue of the system; or
(2) issues obligations that:
(A) are payable in whole or in part from and secured by a lien on and pledge of the net revenue of the system; and
(B) are approved by the attorney general.
Cite this article: FindLaw.com - Texas Local Government Code - LOC GOV'T § 552.121. Applicability of Subchapter - last updated April 14, 2021 | https://codes.findlaw.com/tx/local-government-code/loc-gov-t-sect-552-121.html
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