Sec. 60.173. HEARING ON INDEBTEDNESS. (a) At the time and place set for the hearing or on a subsequent date, the commission shall hear and determine all matters concerning the proposed indebtedness, and the hearing may be adjourned from day to day and from time to time as the commission considers necessary.
(b) At the hearing, any person interested may appear before the commission in person or by attorney and contend for or protest the creation of the proposed indebtedness.
(c) The commission may adopt a resolution or order providing for the assumption of the proposed indebtedness and the issuance of the evidence of the indebtedness if at the hearing it is determined by the commission that the proposed improvements are necessary, feasible, practicable, and needed and will benefit the property in the district.
(d) The commission may, in respect to the issuance, sale, and delivery of securities evidencing the indebtedness, adopt all necessary resolutions, orders, certificates, and trust indentures.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 60 - Navigation Districts--General Provisions
Subchapter G. Powers of District to Provide Improvements Without Taxation
Section 60.171. Authority to Borrow Money and Encumber Property and Franchise
Section 60.172. Notice of Hearing on Indebtedness
Section 60.173. Hearing on Indebtedness
Section 60.174. Issuance of Obligations
Section 60.175. Execution and Sale of Obligations
Section 60.176. Obligations as Charge on Encumbered Property and Facilities
Section 60.177. Lien on Revenue; Foreclosure of Encumbrance
Section 60.178. Trustee to Enforce Foreclosure; Franchise Under Foreclosure
Section 60.179. Borrowing for Current Expenses