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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) An order or resolution of the commissioners court authorizing the issuance of bonds, including refunding bonds, under this chapter may:
(1) provide for the flow of funds and the establishment and maintenance of an interest and sinking fund, a reserve fund, or another fund;
(2) prohibit the further issuance of obligations payable from the pledged revenues or reserve the right to issue additional bonds that are on a parity with, or subordinate to, the lien and pledge on the revenue being used to support the bonds being issued; and
(3) contain any other provision determined by the commissioners court.
(b) The commissioners court may make covenants with respect to the bonds, the pledged revenues, and the operation and maintenance of any facilities the revenue of which is pledged.
Cite this article: FindLaw.com - Texas Local Government Code - LOC GOV'T § 563.103. Contents of Order or Resolution Authorizing Issuance of Bonds - last updated January 01, 2024 | https://codes.findlaw.com/tx/local-government-code/loc-gov-t-sect-563-103/
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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