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§ 8504.302 — Texas Law | CourtGPT
  1. Home/
  2. Laws/
  3. Texas/
  4. Special District Local Laws Code/
  5. Title 6 - Water and Wastewater/
  6. Subtitle G - River Authorities/
  7. Chapter 8504 - Lower Neches Valley Authoritysub/
  8. Subchapter G - Obligations Relating to Borrowed Money/
  9. § 8504.302
Texas Legal Code
(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. Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.04, eff. April 1, 2015.

§ 8504.302

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