Sec. 363.133. BOND PROVISIONS. (a) In the orders or resolutions authorizing the issuance of bonds, including refunding bonds, the governing body may:
(1) provide for the flow of funds and the establishment and maintenance of the interest and sinking fund, the reserve fund, and other funds; and
(2) make additional covenants with respect to the bonds, the pledged revenues, and the operation and maintenance of the physical property of the solid waste management system, the revenue of which is pledged.
(b) In the orders or resolutions authorizing the issuance of bonds, the governing body may:
(1) prohibit the further issuance of bonds or other obligations payable from the pledged revenue or may reserve the right to issue additional bonds to be secured by a pledge of and payable from the revenue on a parity with or subordinate to the lien and pledge in support of the bonds being issued; and
(2) include other provisions as the governing body may determine.
(c) The governing body may adopt and have executed any other proceedings or instruments necessary and convenient in the issuance of bonds.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Section: Previous 363.115 363.116 363.117 363.118 363.119 363.131 363.132 363.133 363.134 363.135 363.136 363.137 363.138 363.139 363.140 NextLast modified: September 28, 2016