Tex. Water Code § 17.960 · Subchapter L. WATER FINANCIAL ASSISTANCE BOND PROGRAM
BOND RESOLUTIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In the resolution, the board may make additional covenants with respect to water financial assistance bonds and may provide for:
(1) the flow of funds;
(2) the establishment of accounts and subaccounts within the fund that the board determines are necessary for the administration of the fund;
(3) at the discretion of the board, the payment of fees and expenses of the board in connection with providing financial assistance to political subdivisions as the board determines are necessary for the administration of the fund;
(4) the maintenance, investment, and management of money within the fund and any accounts established by resolution by the board; and
(5) any other provisions and covenants that the board determines are necessary for the administration of the fund.
(b) The board may invest and reinvest money in the fund and any account therein in any obligations or securities as provided by the resolution or by rule adopted by the board.
(c) The board may adopt and have executed other proceedings, agreements, or trust agreements or instruments necessary in the issuance of water financial assistance bonds, including, without limitation, bond enhancement agreements.
Notes and commentary — not statutory text
History
Added by Acts 1997, 75th Leg., ch. 1010, Sec. 5.03.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/WA/htm/WA.17.htm
- Text hash
- sha256 f4d10baed02378a9df9e0c64618afe51816438189988b663bf44f3f533231ec9
- 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.