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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) An issuer may apply in writing to the board for the insurance of its bonds.
(b) The application must include the following information:
(1) the name of the issuer;
(2) citations of the laws under which the issuer is created and operates and under which the bonds to be insured are to be issued;
(3) the total amount of bonds for which insurance coverage is sought and the anticipated interest rate on the bonds;
(4) the term for which the bonds are to be issued;
(5) the purpose or purposes for which the bonds are to be issued;
(6) financial information relating to the issuance of the bonds and to the financial stability and future of the issuer;
(7) the water conservation plan required by Section 16.4021; and
(8) any other information the board requires by its rules or otherwise considers necessary in making a determination of the application.
(c) The board by rule shall prescribe the form and procedure for submitting and processing an application.
Cite this article: FindLaw.com - Texas Water Code - WATER § 15.206. Application for Insurance - last updated January 01, 2024 | https://codes.findlaw.com/tx/water-code/water-sect-15-206/
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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