Texas Health and Safety Code - HEALTH & SAFETY § 361.0855. Demonstration of Financial Assurance

(1) “Bonds” means financial obligations issued by a local government, including general obligation bonds, revenue bonds, and certificates of obligation.

(2) “Local government” includes:

(1) establishes and passes a financial test in accordance with commission rules; and

(2) demonstrates that the outstanding bonds of the local government that are not secured by insurance, a letter of credit, or any other collateral or guarantee have a current rating of AAA, AA, A, or BBB as determined by Standard and Poor's or Aaa, Aa, A, or Baa as determined by Moody's.

(1) before the date of the initial receipt of waste at the facility; or

(2) as soon as practicable if, on the effective date of this section, the facility was in operation and had received waste.