Sec. 281.075. APPROVAL; REGISTRATION. (a) An authority shall submit the bonds it issues to the attorney general for examination. If the attorney general finds that the bonds are authorized in accordance with law, the attorney general shall approve the bonds and the comptroller of public accounts shall register them.
(b) Bonds that are approved and registered under Subsection (a) are incontestable in a court or other forum and are valid and binding obligations in accordance with their terms.
(c) If the bonds recite that the security for the bonds includes a pledge of the proceeds of a contract or a lease to which the authority is a party, a copy of the contract or lease and of the proceedings authorizing the contract or lease may be submitted to the attorney general with the bond records. If a contract or lease and a record of the corresponding proceedings is submitted to the attorney general, the approval of the bonds by the attorney general is also an approval of the contract or lease and the contract or lease is incontestable.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Title 9 - Public Buildings and Grounds
Subtitle A - Municipal Public Buildings and Grounds
Chapter 281 - Municipal Civic Center Authorities
Section 281.071. Issuance of Bonds
Section 281.072. Additional Security
Section 281.073. Bond Provisions
Section 281.074. Sale of Bonds
Section 281.075. Approval; Registration
Section 281.076. Bond Proceeds
Section 281.077. Refund of Bonds