Tex. Spec. Dist. Local Laws Code Section 5004.203
Provisions of Bond Resolution or Order; Authority to Adopt or Execute Other Proceedings or Instruments

(a)

In the resolution or order adopted by the board authorizing the issuance of bonds payable from net revenue or from the proceeds of a contract or contracts, the board may:

(1)

provide for the flow of funds and the establishment and maintenance of an interest and sinking fund, reserve funds, and other funds;

(2)

make any additional covenants for the bonds, the pledged revenue, and the operation, maintenance, and upkeep of the improvements and facilities the income of which is pledged, including a provision for leasing all or part of the improvements and facilities and the use or pledge of money derived from those leases, as the board considers appropriate;

(3)

prohibit the further issuance of bonds or other obligations payable from the pledged net revenue;

(4)

reserve the right to issue additional bonds to be secured by a pledge of and payable from the net revenue on a parity with, or subordinate to, the lien and pledge in support of the bonds being issued, subject to any conditions provided by the resolution or order; or

(5)

include any other provision or covenant, as determined by the board, that is not prohibited by the Texas Constitution or this chapter.

(b)

The board may adopt and execute any other proceeding or instrument necessary or convenient to issue the bonds.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.04, eff. April 1, 2009.

Source: Section 5004.203 — Provisions of Bond Resolution or Order; Authority to Adopt or Execute Other Proceedings or Instruments, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­5004.­htm#5004.­203 (accessed May 25, 2024).

5004.001
Definitions 5004.002
Nature of District 5004.003
Legislative Findings 5004.004
Liberal Construction of Chapter 5004.005
District Territory 5004.006
Effect of Chapter on Northeast Texas Municipal Water District 5004.051
Composition of Board 5004.052
Qualifications for Office 5004.053
Appointment of Directors 5004.054
Bond 5004.055
Filing of Oath 5004.056
Vacancies 5004.057
Compensation 5004.058
Removal from Office 5004.059
Officers 5004.060
Meetings 5004.101
General Powers and Duties 5004.102
Powers Regarding Canals, Ports, Waterways, and Facilities 5004.103
Bylaws and Rules 5004.104
Gift or Purchase of Property 5004.105
Surplus Property 5004.106
General Authority to Make Contracts and Execute Instruments 5004.107
Contracts with United States 5004.108
Authority to Spend Money for Seeking Cooperation 5004.109
Cooperation with Other Governmental Entities Concerned with Navigation on Big Cypress River 5004.110
Employment of Officers and Employees 5004.111
Permits 5004.112
Authority to Sue and Be Sued 5004.113
Seal 5004.114
Red River Compact 5004.151
Form of Accounts 5004.152
Filing Copies of Audit Report 5004.153
Procedure for Distribution of Money 5004.154
Bond of Certain Officers, Agents, and Employees 5004.155
Authority to Borrow Money, Accept Grants, and Issue Associated Revenue Bonds 5004.156
Authority to Borrow Money for Current Expenses 5004.157
No Authority for Ad Valorem Tax 5004.201
Definition 5004.202
Authority to Issue Bonds 5004.203
Provisions of Bond Resolution or Order 5004.204
Form of Bonds 5004.205
Maturity 5004.206
Use of Bond Proceeds 5004.207
Refunding Bonds
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Accessed:
May 25, 2024

§ 5004.203’s source at texas​.gov