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Texas Government Code - GOV'T § 1371.051. Authority to Issue Obligation

Current as of January 01, 2024 | Updated by Findlaw Staff

As authorized and approved by the governing body of an issuer, the governing body may issue, sell, and deliver an obligation to:

(1) finance a project cost;

(2) refund an obligation issued in connection with an eligible project;  or

(3) finance all or part of a payment owed or to be owed on:

(A) the establishment of a credit agreement;  or

(B) the settlement or termination, at maturity or otherwise, of a credit agreement, whether the settlement or termination occurs:

(i) at the option of the issuer or the other party to the credit agreement;  or

(ii) by operation of the terms of the credit agreement.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1371.051. Authority to Issue Obligation - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1371-051/

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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