Tex. Gov't Code § 1371.051 · Subchapter B. ISSUANCE AND APPROVAL OF OBLIGATION
AUTHORITY TO ISSUE OBLIGATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
As authorized and approved by the governing body of an issuer, the governing body may issue, sell, and deliver an obligation to:
(1) finance a project cost;
(2) refund an obligation issued in connection with an eligible project; or
(3) finance all or part of a payment owed or to be owed on:
(A) the establishment of a credit agreement; or
(B) the settlement or termination, at maturity or otherwise, of a credit agreement, whether the settlement or termination occurs:
(i) at the option of the issuer or the other party to the credit agreement; or
(ii) by operation of the terms of the credit agreement.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 769, Sec. 10, eff. Sept. 1, 2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1310 (S.B. 968), Sec. 3, eff. June 15, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1371.htm
- Text hash
- sha256 d22553df865f075dd1edd22fd083419467a3964a5daf1de446f1462e7f273246
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.