Sec. 1473.004. CONTENTS OF ORDER AUTHORIZING BONDS. (a) The order of the commissioners court authorizing the issuance of bonds under this subchapter may provide for the flow of funds and the establishment and maintenance of an interest and sinking fund, a reserve fund, or another fund.
(b) The order may:
(1) prohibit the issuance of additional bonds or other obligations payable from the pledged revenue; or
(2) reserve the right of the commissioners court to issue additional bonds payable from the pledged revenue that are on a parity with or subordinate to the lien and pledge on the revenue that supports the bonds issued under the order.
(c) The commissioners court may include in the order any other provision or covenant, including a covenant with respect to the bonds, the pledge of revenue, or the operation or maintenance of the library building.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Section: Previous 1473.001 1473.002 1473.003 1473.004 1473.005 1473.006 1473.007 1473.008 1473.009 1473.021 1473.022 1473.023 1473.024 1473.051 1473.052 NextLast modified: September 28, 2016