Sec. 8501.260. COVENANTS FOR MARKETABILITY. (a) A resolution or order authorizing the issuance of obligations under this chapter may contain covenants with the holders of the obligations on the following subjects as considered necessary to ensure the marketability of the obligations:
(1) management and operation of the improvements and facilities of the authority;
(2) collection of fees for the use of the improvements and facilities;
(3) disposition of the fees;
(4) issuance of future obligations and creation of future liens, mortgages, and encumbrances against the improvements and facilities and the revenue of the improvements and facilities; and
(5) other pertinent matters.
(b) The covenants may not be inconsistent with this chapter.
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.
Section: Previous 8501.253 8501.254 8501.255 8501.256 8501.257 8501.258 8501.259 8501.260 8501.261 8501.262 8501.263 8501.264 8501.265 8501.266 8501.267 NextLast modified: September 28, 2016