Texas Health & Safety Code - Section 285.008. Bonds
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Texas Laws > Health & Safety Code > Texas Health & Safety Code - Section 285.008. Bonds
Section: 285.001 285.002 285.003 285.004 285.005 285.006 285.007 285.008 285.009 285.021 285.022 285.023 285.024 285.025 285.026
§ 285.008. BONDS. (a) In a revenue anticipation
agreement, the commissioners court may promise to execute and
deliver, concurrently with the making of advances under the
agreement, interest-bearing bonds evidencing the county's and
hospital district's obligation to repay the advances as provided by
the agreement and this subchapter.
(b) The bonds may be delivered on terms consistent with the
terms specified for a revenue anticipation agreement by this
(c) The provisions of this subchapter that relate to
advances apply to bonds issued under this section.
(d) Bonds issued under this subchapter are:
(1) incontestable in a court or other forum;
(2) valid and binding obligations;
(3) investment securities under the Uniform
Commercial Code (Title 1, Business & Commerce Code);
(4) legal and authorized security for public funds of
the state and its political subdivisions; and
(5) legal and authorized investments by a bank,
savings bank, savings and loan association, or insurance company.
Acts 1989, 71st Leg., ch. 678, § 1, eff. Sept. 1, 1989.
Last modified: August 11, 2007