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Current as of January 01, 2024 | Updated by Findlaw Staff
(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.
Cite this article: FindLaw.com - Texas Transportation Code - TRANSP § 317.154. Terms of Issuance of Revenue Refunding Bonds - last updated January 01, 2024 | https://codes.findlaw.com/tx/transportation-code/transp-sect-317-154/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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