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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) The lease shall expressly state that the sums payable under the terms of the lease and the lease itself shall not constitute an indebtedness or pledge of the general credit of the district within the meaning of any constitutional or statutory limitation of indebtedness. The lease shall contain a statement that payments due under it are not payable from any funds raised or to be raised by taxation.
(b) The lease may contain covenants and agreements which are not inconsistent with the provisions of this code which authorize the lease for:
(1) the management and operation of the leased properties;
(2) the imposition and collection of charges for water;
(3) the disposition of the proceeds of charges;
(4) the insurance, protection, and maintenance of the leased properties;
(5) the creation of other obligations payable from the revenues derived from the operation of the leased properties;
(6) the keeping of books and records by the district; and
(7) other pertinent provisions which the board considers desirable to assure the payment of amounts due under the lease.
Cite this article: FindLaw.com - Texas Water Code - WATER § 58.170. Covenants and Agreements Included in Lease - last updated January 01, 2024 | https://codes.findlaw.com/tx/water-code/water-sect-58-170/
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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