Texas Statutes
Subchapter C. Natural Gas System for County Buildings in Certain Counties
Section 1477.108. Contents of Order Authorizing Bonds

Sec. 1477.108. CONTENTS OF ORDER AUTHORIZING BONDS. An order authorizing the issuance of bonds under this subchapter may contain:
(1) reasonable and proper provisions for protecting and enforcing the rights or remedies of the bondholders, including covenants that state the duties of the county relating to:
(A) the acquisition of property for the natural gas system;
(B) the construction, maintenance, operation, repair, and insurance of the system; and
(C) the custody, protection, and application of all money related to the system;
(2) a statement of the rights and remedies of the bondholders; and
(3) other provisions that the commissioners court considers reasonable and proper for the security of the bondholders, including covenants prescribing:
(A) each event that constitutes a default; and
(B) the rights, liabilities, powers, and duties that arise on the breach by the county of a duty or obligation.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

Structure Texas Statutes