(a) The governing body of a municipality may issue warrants or notes drawn against the current revenues of the municipality for the fiscal year to:
- (1) provide for the payment of the municipality's expenses for the fiscal year in which the warrants or notes are issued or for any portion of that fiscal year; or
- (2) refund the principal of and interest on warrants and notes issued under this subchapter.
- (b) Warrants and notes issued under this subchapter must be dated and numbered consecutively as issued.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.