Tex. Gov't Code § 1502.064 · Subchapter B. PUBLIC SECURITIES FOR UTILITY SYSTEMS, PARKS, OR POOLS
CREDIT AGREEMENT FOR RESERVE FUND.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The governing body of a municipality may provide that in lieu of or in addition to providing a cash reserve, a credit agreement, as defined by Section 1371.001, may be used to provide the reserve.
(b) A credit agreement obtained to provide a reserve must be submitted to the attorney general for examination and approval. After approval by the attorney general, the credit agreement is incontestable in any court or other forum for any reason and is a valid and binding obligation of the municipality in accordance with its terms for all purposes.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 1064, Sec. 22, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1502.htm
- Text hash
- sha256 4cac58ee3f6395abea4d0bf965cadaf79c25adddc20609cb51f62fe693e7742a
- 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
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