Tex. Spec. Dist. Local Laws Code § 8504.302 · Subchapter G. OBLIGATIONS RELATING TO BORROWED MONEY
COVENANTS FOR MARKETABILITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) As considered necessary to ensure the marketability of obligations issued under this chapter, a resolution or order authorizing issuance may contain covenants with the holders of the obligations as to:
(1) the management and operation of the authority's improvements and facilities;
(2) the collection of fees and charges for the use of the improvements and facilities;
(3) the disposition of the fees and charges;
(4) the issuance of future obligations and the creation of future liens, mortgages, and encumbrances against the improvements and facilities and the revenue of the improvements and facilities; and
(5) other pertinent matters.
(b) A covenant under this section may not be inconsistent with this chapter.
Notes and commentary — not statutory text
History
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.04, eff. April 1, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8504.htm
- Text hash
- sha256 ba627071c6f492d3489ffbfad0d051744fca12dbe8b824fe6442dcf1306f0831
- 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.