Sec. 1207.0621. SOURCES AVAILABLE FOR PAYMENT. An issuer may pledge to the payment of a refunding bond issued to make a deposit under this subchapter:
(1) any surplus income to be earned from the investment of a deposit made under this subchapter;
(2) any other available revenue, income, or resource; or
(3) both surplus income described by Subdivision (1) and any other available revenue, income, or resource.
Added by Acts 2001, 77th Leg., ch. 1420, Sec. 8.003, eff. Sept. 1, 2001.
Structure Texas Statutes
Subtitle A - General Provisions
Chapter 1207 - Refunding Bonds
Subchapter C. Direct Deposit With Paying Agent
Section 1207.061. Authority to Deposit Directly
Section 1207.062. Escrow Agreement
Section 1207.0621. Sources Available for Payment
Section 1207.063. Duty to Comply
Section 1207.064. Incontestability of Certain Escrow Agreements and Contracts