Texas § 8501.260 COVENANTS FOR MARKETABILITY.

Texas Statutes

§ 8501.260 — COVENANTS FOR MARKETABILITY.

Texas § 8501.260

Code SDSpecial District Local Laws Code

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Bluebook

Tex. Special District Local Laws Code Code Ann. § 8501.260 (2026).

Text

Sec. 8501.260. COVENANTS FOR MARKETABILITY.

(a)A resolution or order authorizing the issuance of obligations under this chapter may contain covenants with the holders of the obligations on the following subjects as considered necessary to ensure the marketability of the obligations:

(1)management and operation of the improvements and facilities of the authority;

(2)collection of fees for the use of the improvements and facilities;

(3)disposition of the fees;

(4)issuance of future obligations and creation of future liens, mortgages, and encumbrances against the improvements and facilities and the revenue of the improvements and facilities; and

(5)other pertinent matters.

(b)The covenants may not be inconsistent with this chapter.

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Sec. 8501.260. COVENANTS FOR MARKETABILITY. (a) A resolution or order authorizing the issuance of obligations under this chapter may contain covenants with the holders of the obligations on the following subjects as considered necessary to ensure the marketability of the obligations:
(1) management and operation of the improvements and facilities of the authority;
(2) collection of fees for the use of the improvements and facilities;
(3) disposition of the fees;
(4) issuance of future obligations and creation of future liens, mortgages, and encumbrances against the improvements and facilities and the revenue of the improvements and facilities; and
(5) other pertinent matters.
(b) The covenants may not be inconsistent with this chapter.