Texas § 364.054 DISTRICT BOND VALIDATION BY SUIT.

Texas Statutes

§ 364.054 — DISTRICT BOND VALIDATION BY SUIT.

Texas § 364.054

Code HSHealth and Safety Code

This text of Texas § 364.054 (DISTRICT BOND VALIDATION BY SUIT.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Health and Safety Code Code Ann. § 364.054 (2026).

Text

Sec. 364.054. DISTRICT BOND VALIDATION BY SUIT.

(a)As an alternative for, or in addition to, the procedure provided by Section 364.053 , the board of directors of a district may validate its bonds by filing suit under Chapter 1205 , Government Code.

(b)The interest rate and sale price of the bonds need not be fixed until after the termination of the validation proceedings or suit.

(c)If the proposed bonds recite that they are secured by the proceeds of a contract made by the district and one or more public agencies, the petition must allege that fact and the notice of the suit must mention that allegation and each public agency's fund or revenues from which the contract is payable.

(d)The suit is a proceeding in rem, and the judgment is res judicata as to the validity of the bonds and

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Sec. 364.054. DISTRICT BOND VALIDATION BY SUIT. (a) As an alternative for, or in addition to, the procedure provided by Section 364.053 , the board of directors of a district may validate its bonds by filing suit under Chapter 1205 , Government Code.
(b) The interest rate and sale price of the bonds need not be fixed until after the termination of the validation proceedings or suit.
(c) If the proposed bonds recite that they are secured by the proceeds of a contract made by the district and one or more public agencies, the petition must allege that fact and the notice of the suit must mention that allegation and each public agency's fund or revenues from which the contract is payable.
(d) The suit is a proceeding in rem, and the judgment is res judicata as to the validity of the bonds and any contract and the pledge of revenues.