Texas § 8506.202 STATE PLEDGE REGARDING RIGHTS AND REMEDIES OF BONDHOLDERS.

Texas Statutes

§ 8506.202 — STATE PLEDGE REGARDING RIGHTS AND REMEDIES OF BONDHOLDERS.

Texas § 8506.202

Code SDSpecial District Local Laws Code

This text of Texas § 8506.202 (STATE PLEDGE REGARDING RIGHTS AND REMEDIES OF BONDHOLDERS.) 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. Special District Local Laws Code Code Ann. § 8506.202 (2026).

Text

Sec. 8506.202. STATE PLEDGE REGARDING RIGHTS AND REMEDIES OF BONDHOLDERS. This chapter does not deprive this state of its power to regulate and control rates or charges to be collected for the use of water, water connections, power, electric energy, or another service. The state pledges to and agrees with the purchasers and successive holders of the bonds issued under this chapter that the state will not limit or alter the power this chapter gives the authority to establish and collect rates and charges that will produce revenue sufficient to pay the items specified by Section 8506.154 (b) or in any way impair the rights or remedies of the holders of the bonds, or of any person in their behalf, until the following are fully met and discharged:

(1)the bonds;

(2)the interest on the bonds;

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Sec. 8506.202. STATE PLEDGE REGARDING RIGHTS AND REMEDIES OF BONDHOLDERS. This chapter does not deprive this state of its power to regulate and control rates or charges to be collected for the use of water, water connections, power, electric energy, or another service. The state pledges to and agrees with the purchasers and successive holders of the bonds issued under this chapter that the state will not limit or alter the power this chapter gives the authority to establish and collect rates and charges that will produce revenue sufficient to pay the items specified by Section 8506.154 (b) or in any way impair the rights or remedies of the holders of the bonds, or of any person in their behalf, until the following are fully met and discharged:
(1) the bonds;
(2) the interest on the bonds;
(3) interest on unpaid installments of interest;
(4) all costs and expenses in connection with any action or proceedings by or on behalf of the bondholders; and
(5) all other obligations of the authority in connection with the bonds.