Sec. 2211.207. CONTENTS OF PUBLIC SECURITY RESOLUTION; ADMINISTRATION OF ACCOUNTS. (a) In a public security resolution, the board may:
(1) provide for the flow of funds and the establishment, maintenance, and investment of funds and special accounts with regard to the public securities, including an interest and sinking fund account, a reserve account, and other accounts; and
(2) make additional covenants with regard to the public securities and the designated income and receipts of the association pledged to the payment of the public securities.
(b) The association shall administer the accounts in accordance with this chapter.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Structure Texas Statutes
Title 10 - Property and Casualty Insurance
Subtitle G - Pools, Groups, Plans, and Self-Insurance
Subchapter E. Revenue Bond Program
Section 2211.203. Applicability of Other Laws
Section 2211.204. Issuance of Public Securities Authorized
Section 2211.205. Limitation on Amount of Public Securities
Section 2211.206. Terms of Issuance
Section 2211.207. Contents of Public Security Resolution; Administration of Accounts
Section 2211.208. Source of Payment
Section 2211.210. Exemption From Taxation
Section 2211.211. Authorized Investments
Section 2211.212. State Pledge Regarding Public Security Owner Rights and Remedies