Tex. Water Code § 15.202 · Subchapter D. WATER BOND INSURANCE PROGRAM
CREATION AND ADMINISTRATION OF PROGRAM.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The water bond insurance program is created pursuant to Article III, Section 49-d-4, of the Texas Constitution to insure to holders of insured bonds that in the event of default or impending default the state will pay, to the extent authorized by this subchapter, the principal of or interest on or both principal of and interest on the bonds.
(b) The board shall administer the program in the manner provided by this subchapter and by rules of the board.
(c) The legislature, in accordance with authorization provided by Article III, Section 49-d-4, of the Texas Constitution, authorizes the existence of the program to continue beyond the expiration date of the program provided by Subsection (g) of that section.
Notes and commentary — not statutory text
History
Added by Acts 1985, 69th Leg., ch. 133, Sec. 2.05. Amended by Acts 1991, 72nd Leg., ch. 52, Sec. 2, eff. May 1, 1991.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/WA/htm/WA.15.htm
- Text hash
- sha256 8e3638494d3e77df4db4aee55ba790c3d5e0955ad00bd9df8665295e6d8f1ec5
- 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.