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Current as of January 01, 2024 | Updated by Findlaw Staff
An issuer may bring an action under this chapter to obtain a declaratory judgment as to:
(1) the authority of the issuer to issue the public securities;
(2) the legality and validity of each public security authorization relating to the public securities, including if appropriate:
(A) the election at which the public securities were authorized;
(B) the organization or boundaries of the issuer;
(C) the imposition of an assessment, a tax, or a tax lien;
(D) the execution or proposed execution of a contract;
(E) the imposition of a rate, fee, charge, or toll or the enforcement of a remedy relating to the imposition of that rate, fee, charge, or toll; and
(F) the pledge or encumbrance of a tax, revenue, receipts, or property to secure the public securities;
(3) the legality and validity of each expenditure or proposed expenditure of money relating to the public securities; and
(4) the legality and validity of the public securities.
Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1205.021. Authority to Bring Action - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1205-021/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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