Tex. Water Code § 15.202
This is the official text of Tex. Water Code § 15.202, part of Texas’s Water Code — governs water rights and water resource management.
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§ 15.202. CREATION AND ADMINISTRATION OF PROGRAM.
Official statutory text
(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.
(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.
Status: in_force · Read it on the official government site
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