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Current as of April 14, 2021 | Updated by FindLaw Staff
(a) As considered necessary to ensure the marketability of obligations issued under this chapter, a resolution or order authorizing issuance may contain covenants with the holders of the obligations as to:
(1) the management and operation of the authority's improvements and facilities;
(2) the collection of fees and charges for the use of the improvements and facilities;
(3) the disposition of the fees and charges;
(4) the issuance of future obligations and the creation of future liens, mortgages, and encumbrances against the improvements and facilities and the revenue of the improvements and facilities; and
(5) other pertinent matters.
(b) A covenant under this section may not be inconsistent with this chapter. (Acts 43rd Leg., 1st C.S., Ch. 63, Sec. 20.)
Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 8504.302. Covenants for Marketability - last updated April 14, 2021 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-8504-302/
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 or via Westlaw before relying on it for your legal needs.
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