Sec. 501.204. AUTHORIZING UNIT'S APPROVAL OF BONDS. (a) A corporation may not deliver bonds, including refunding bonds, unless the governing body of the corporation's authorizing unit adopts a resolution, not earlier than the 60th day before the date the bonds are delivered, specifically approving the corporation's resolution providing for the issuance of the bonds.
(b) If the corporation is authorized to be created by a county alliance, the resolution required by Subsection (a) must be adopted by the commissioners courts of at least three-fifths of the members of the county alliance.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.
Structure Texas Statutes
Title 12 - Planning and Development
Chapter 501 - Provisions Governing Development Corporations
Subchapter E. Corporate Powers and Limitations Relating to Bonds
Section 501.201. Authority to Issue Bonds
Section 501.203. Securities Commissioner Permit to Sell Securities Required
Section 501.204. Authorizing Unit's Approval of Bonds
Section 501.205. Bond Counsel and Financial Advisors
Section 501.206. Money Used to Pay Bonds
Section 501.207. Bonds Not Debt of State or Authorizing Unit
Section 501.208. Bond Security; Default
Section 501.209. Trust Agreement
Section 501.210. Financial Assurance or Responsibility Requirements for Certain Projects
Section 501.211. Use of Bond Proceeds
Section 501.212. Interim Bonds