Texas Government Code 1507.001 – Authority to Issue Bonds
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Terms Used In Texas Government Code 1507.001
- Plaintiff: The person who files the complaint in a civil lawsuit.
A municipality may issue, sell, and deliver bonds in an amount sufficient to pay a final judgment of a court, plus the interest and the costs and expenses connected with the judgment, if:
(1) the judgment is against the municipality or the payment of the judgment is the legal responsibility of the municipality;
(2) the judgment awards the plaintiff an amount in cash; and
(3) the municipality does not have money available to pay the amount of the judgment plus the interest and the cost and expenses connected with the judgment or decree.