Tex. Special District Local Laws Code § 21.406
This is the official text of Tex. Special District Local Laws Code § 21.406, part of Texas’s Special District Local Laws Code — consolidates the individual laws creating Texas's special-purpose local government districts.
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§ 21.406. BOND PROVISIONS.
Official statutory text
(a) In an order or resolution authorizing the issuance of bonds, including refunding bonds, the board may:
(1) provide for the flow of money;
(2) provide for the establishment and maintenance of an interest and sinking fund, a reserve fund, and other funds; and
(3) prohibit the further issuance of bonds or other obligations payable from the pledged fees or reserve the right to issue additional bonds to be secured by a pledge of and payable from the pledged fees on a parity with or subordinate to the pledge in support of the bonds being issued; and
(4) provide for other provisions as the board determines.
(b) The board may adopt and have executed any other proceeding or instrument necessary and convenient in the issuance of bonds.
(1) provide for the flow of money;
(2) provide for the establishment and maintenance of an interest and sinking fund, a reserve fund, and other funds; and
(3) prohibit the further issuance of bonds or other obligations payable from the pledged fees or reserve the right to issue additional bonds to be secured by a pledge of and payable from the pledged fees on a parity with or subordinate to the pledge in support of the bonds being issued; and
(4) provide for other provisions as the board determines.
(b) The board may adopt and have executed any other proceeding or instrument necessary and convenient in the issuance of bonds.
Status: in_force · Read it on the official government site
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