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Texas Government Code - GOV'T § 1477.108. Contents of Order Authorizing Bonds

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

An order authorizing the issuance of bonds under this subchapter may contain:

(1) reasonable and proper provisions for protecting and enforcing the rights or remedies of the bondholders, including covenants that state the duties of the county relating to:

(A) the acquisition of property for the natural gas system;

(B) the construction, maintenance, operation, repair, and insurance of the system;  and

(C) the custody, protection, and application of all money related to the system;

(2) a statement of the rights and remedies of the bondholders;  and

(3) other provisions that the commissioners court considers reasonable and proper for the security of the bondholders, including covenants prescribing:

(A) each event that constitutes a default;  and

(B) the rights, liabilities, powers, and duties that arise on the breach by the county of a duty or obligation.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1477.108. Contents of Order Authorizing Bonds - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1477-108/

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