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Texas Government Code - GOV'T § 1473.004. Contents of Order Authorizing Bonds

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

(a) The order of the commissioners court authorizing the issuance of bonds under this subchapter may provide for the flow of funds and the establishment and maintenance of an interest and sinking fund, a reserve fund, or another fund.

(b) The order may:

(1) prohibit the issuance of additional bonds or other obligations payable from the pledged revenue;  or

(2) reserve the right of the commissioners court to issue additional bonds payable from the pledged revenue that are on a parity with or subordinate to the lien and pledge on the revenue that supports the bonds issued under the order.

(c) The commissioners court may include in the order any other provision or covenant, including a covenant with respect to the bonds, the pledge of revenue, or the operation or maintenance of the library building.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1473.004. Contents of Order Authorizing Bonds - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1473-004/

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