Sec. 30.058. VALIDATION SUIT. (a) Instead of or in addition to obtaining the approval of the attorney general, the district may have the bonds validated by suit in the district court as provided in Chapter 1205, Government Code.
(b) The governing body of the district may wait until after termination of the validation suit to fix the interest rate and sale price of the bonds.
(c) If the proposed bonds recite that they are secured by the proceeds of a contract between the district and a public agency, the petition shall so allege, and the notice of the suit shall mention this allegation and shall specify the public agency's funds or revenues from which the contract payments are to be made.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977; Acts 2001, 77th Leg., ch. 1420, Sec. 8.420, eff. Sept. 1, 2001.
Structure Texas Statutes
Title 2 - Water Administration
Subtitle D - Water Quality Control
Chapter 30 - Regional Waste Disposal
Subchapter C. District Revenue Bonds
Section 30.051. Issuance of Bonds
Section 30.052. Form, Denomination, Interest Rate
Section 30.053. Refunding Bonds
Section 30.054. Sale or Exchange of Bonds
Section 30.056. Attorney General's Examination
Section 30.057. Registration by Comptroller
Section 30.058. Validation Suit
Section 30.059. Bonds Incontestable
Section 30.060. Negotiable Instruments
Section 30.061. Investment Securities Under Uniform Commercial Code
Section 30.062. Bonds as Authorized Investments
Section 30.063. Security for Deposits
Section 30.064. Funds Set Aside From Bond Proceeds