Tex. Spec. Dist. Local Laws Code § 9601.212 · Subchapter E. BONDS
ADDITIONAL AUTHORITY TO PROVIDE DEBT SERVICE RESERVE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board may provide that in lieu of or in addition to providing for the funding of a debt service reserve fund with cash, a line or letter of credit or an insurance policy may be used for the debt service reserve fund.
(b) Any agreement under which a line or letter of credit or insurance policy is provided must be submitted to the attorney general for examination and approval. After approval, the agreement is incontestable in any court or other forum for any reason and is a valid and binding obligation of the district in accordance with its terms for all purposes.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 523 (S.B. 1223), Sec. 1, eff. June 19, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.9601.htm
- Text hash
- sha256 b199290bcf56ae9b6e63e3b695e3c65daced69d0cd954916979f2588bb6fa5b5
- 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.