Tex. Local Government Code § 107.008
This is the official text of Tex. Local Government Code § 107.008, part of Texas’s Local Government Code — governs the powers and operations of Texas cities and counties.
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§ 107.008. ADDITIONAL AUTHORITY; CREDIT AGREEMENTS.
Official statutory text
(a) In this section, "credit agreement" and "obligation" have the meanings assigned by Section 1371.001, Government Code.
(b) The governing body of a municipality that issues obligations under Section 107.003 may exercise any of the rights or powers of the governing body of an issuer under Chapter 1371, Government Code, and may enter into a credit agreement under that chapter. An obligation issued under Section 107.003 is an obligation under Chapter 1371, Government Code, but is not required to be rated as required by that chapter.
(b) The governing body of a municipality that issues obligations under Section 107.003 may exercise any of the rights or powers of the governing body of an issuer under Chapter 1371, Government Code, and may enter into a credit agreement under that chapter. An obligation issued under Section 107.003 is an obligation under Chapter 1371, Government Code, but is not required to be rated as required by that chapter.
Status: in_force · Read it on the official government site
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