Sec. 383.024. APPROVAL AND REGISTRATION. (a) An issuer shall submit bonds that have been authorized by its governing body, including refunding bonds and the record relating to the bond issuance, to the attorney general for examination as to their validity. If the bonds state that they are secured by a pledge of proceeds of a lease or other contract previously entered into by the issuer, the issuer may submit the contract with the bonds.
(b) If the bonds have been authorized in accordance with state law and any contract has been made in accordance with state law, the attorney general shall approve the bonds and contract and the comptroller shall register the bonds.
(c) Following approval and registration, the bonds and contract are incontestable.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Structure Texas Statutes
Title 5 - Sanitation and Environmental Quality
Chapter 383 - Clean Air Financing Act
Section 383.021. Authority to Issue
Section 383.022. Form and Procedure
Section 383.024. Approval and Registration
Section 383.025. Pledge of Revenue as Security; Election
Section 383.026. Pledge of Other Utility Revenue; Election
Section 383.027. Security May Apply to Additional Bonds
Section 383.028. Trusts as Security
Section 383.029. Other Security
Section 383.030. Action by Bondholders
Section 383.031. Investment and Use of Proceeds
Section 383.032. Refunding Bonds