Sec. 1432.011. REVIEW AND APPROVAL OF CONTRACTS RELATING TO BONDS. (a) If bonds issued under this chapter state that they are secured by a pledge of revenue or rents from a contract, including a lease contract, a copy of the contract and the proceedings related to it must be submitted to the attorney general.
(b) If the attorney general finds that the bonds have been authorized and the contract has been made in accordance with law, the attorney general shall approve the contract.
(c) After the bonds are approved and registered as provided by Chapter 1202 and the contract is approved under Subsection (b), the contract is incontestable in a court or other forum for any reason and is a valid and binding obligation for all purposes in accordance with its terms.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities
Chapter 1432 - Bonds for Local Government Sports Centers
Section 1432.001. Applicability of Chapter
Section 1432.003. Authority for Sports Centers
Section 1432.004. Authority to Issue Revenue Bonds
Section 1432.005. Pledge of Revenue
Section 1432.006. Additional Security
Section 1432.007. Bonds Not Payable From Taxes
Section 1432.009. Additional Bonds
Section 1432.010. Sale of Bonds
Section 1432.011. Review and Approval of Contracts Relating to Bonds
Section 1432.013. Refunding Bonds