Tex. Gov't Code § 1509.158 · Subchapter D. BONDS FOR GARBAGE RECLAMATION PROJECTS
CONTENTS OF ORDER OR RESOLUTION AUTHORIZING BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An order or resolution of the governing body of the municipality authorizing the issuance of bonds under this subchapter may provide for the flow of funds and the establishment and maintenance of an interest and sinking fund, a reserve fund, or another fund.
(b) The order or resolution may:
(1) prohibit the further issuance of bonds or other obligations payable from the pledged revenue; or
(2) reserve the right to issue additional bonds to be secured by a pledge of and payable from the revenue that are on a parity with, or subordinate to, the lien and pledge on the revenue being used to support the bonds being issued.
(c) The order or resolution may contain any other provision or covenant, including a covenant with respect to the bonds, the pledged revenue, or the operation and maintenance of the garbage reclamation project the revenue of which is pledged.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, 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.1509.htm
- Text hash
- sha256 e9d3c7ea6e23dd89ef2d9dacf7331304e256576f5359109032e1282e17abfc81
- 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.