Sec. 572.064. FORM AND PROVISIONS OF OBLIGATIONS. (a) An obligation issued under this subchapter must mature not later than 40 years after its date of issuance.
(b) The obligations must be signed by the presiding officer or assistant presiding officer of the public utility agency and be attested by the secretary.
(c) A public utility agency may sell obligations issued under this subchapter at public or private sale at a price or under the terms the agency determines to be in the best interest of the agency.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 19, eff. Sept. 1, 1999.
Renumbered from Local Government Code, Section 422.064 by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.76(c)(2), eff. April 1, 2009.
Structure Texas Statutes
Title 13 - Water and Utilities
Subtitle C - Water Provisions Applying to More Than One Type of Local Government
Chapter 572 - Public Utility Agencies for Provision of Water or Sewer Service
Subchapter C. Public Utility Agencies
Section 572.052. Creation of Public Utility Agency
Section 572.053. Changes in Public Entities Participating in Public Utility Agency
Section 572.055. Contents of Concurrent Ordinance
Section 572.056. Petition and Referendum
Section 572.057. Board of Directors
Section 572.059. Construction Contracts
Section 572.060. Contracts for Sewer or Water Services
Section 572.061. Rates and Charges