Texas § 8512.0502 STATE PLEDGE REGARDING RIGHTS AND REMEDIES OF BONDHOLDERS.

Texas Statutes

§ 8512.0502 — STATE PLEDGE REGARDING RIGHTS AND REMEDIES OF BONDHOLDERS.

Texas § 8512.0502

Code SDSpecial District Local Laws Code

This text of Texas § 8512.0502 (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. § 8512.0502 (2026).

Text

Text of section effective on April 01, 2027 Sec. 8512.0502. STATE PLEDGE REGARDING RIGHTS AND REMEDIES OF BONDHOLDERS. This chapter does not deprive this state of its power to regulate and control rates or other charges to be imposed for the use of water, water connections, power, electric energy, or another service. This state pledges to and agrees with the purchasers and successive holders of the bonds issued under this chapter that this state will not limit or alter the power this chapter gives the authority to impose rates and other charges that will produce revenue sufficient to pay the items specified by Section 8512.0405 (b) or in any way impair the rights or remedies of the bondholders, or of any person in their behalf, until the following are fully discharged:

(1)the bonds;

(2)t

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Text of section effective on April 01, 2027
Sec. 8512.0502. STATE PLEDGE REGARDING RIGHTS AND REMEDIES OF BONDHOLDERS. This chapter does not deprive this state of its power to regulate and control rates or other charges to be imposed for the use of water, water connections, power, electric energy, or another service. This state pledges to and agrees with the purchasers and successive holders of the bonds issued under this chapter that this state will not limit or alter the power this chapter gives the authority to impose rates and other charges that will produce revenue sufficient to pay the items specified by Section 8512.0405 (b) or in any way impair the rights or remedies of the bondholders, or of any person in their behalf, until the following are fully discharged:
(1) the bonds;
(2) the interest on the bonds;
(3) any premium;
(4) interest on unpaid installments of interest;
(5) all costs and expenses in connection with any action or proceeding by or on behalf of the bondholders; and
(6) all other authority obligations in connection with the bonds.