§ 1477.058 — CONTENTS OF ORDER AUTHORIZING BONDS.

Texas § 1477.058

• Jurisdiction: Texas
• Code GV: Government Code

Text

Sec. 1477.058. CONTENTS OF ORDER AUTHORIZING BONDS. The order authorizing issuance of bonds under this subchapter to pay for a project may contain:
(1) reasonable and proper provisions for protecting and enforcing the rights and remedies of the bondholders, including covenants that state the duties of the county relating to:
(A) the acquisition of property for the project;
(B) the construction, maintenance, operation, repair, and insurance of the project; and
(C) the custody, protection, and application of all money related to the project;
(2) a statement of the rights and remedies of the bondholders; and
(3) other provisions that the commissioners court considers reasonable and proper for the security of the bondholders, including covenants prescribing:
(A) each event that constitutes a default; and
(B) the rights, liabilities, powers, and duties that arise on breach by the county of a duty or obligation.

Legislative History

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.