Texas Local Government Code 552.121 – Applicability of Subchapter
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Terms Used In Texas Local Government Code 552.121
- Home-rule municipality: means a municipality designated by Chapter 5 as a home-rule municipality. See Texas Local Government Code 1.005
- Lien: A claim against real or personal property in satisfaction of a debt.
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.