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HB 756, 54th Regular Session
Relating to authorizing any city, including any city operating under a Home Rule Charter, having outstanding water revenue bonds whose net revenues from its waterworks system for each of the two (2) fiscal years next preceding the date when it avails itself of this law are equal to or exceeds two hundred per cent (200%) of the requirements of principal and interest on such outstanding bonds for the year when such requirements are the greatest, to issue for the express purpose of providing funds for the refunding or redemption of its outstanding water system revenue bonds, general obligation bonds, and to be entitled to have paid into its general fund from its waterworks system revenues like amounts as would have been payable on the water system revenue bonds refunded or redeemed, in addition to any such payments provided by the terms of any contract regarding the issuance of its water system revenue bonds.

Author: Clinton Stanley Banks, Jr.
Coauthor: Robert L. "Bob" Strickland

Session Law Chapter:
Acts 1955, 54th R.S.,ch. 320, General and Special Laws of Texas

Subjects:
BONDS
City Government--Finance
Civil Remedies & Liabilities

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