Texas Statutes
Subchapter F. Obligations Relating to Borrowed Money
Section 8501.260. Covenants for Marketability

Sec. 8501.260. COVENANTS FOR MARKETABILITY. (a) A resolution or order authorizing the issuance of obligations under this chapter may contain covenants with the holders of the obligations on the following subjects as considered necessary to ensure the marketability of the obligations:
(1) management and operation of the improvements and facilities of the authority;
(2) collection of fees for the use of the improvements and facilities;
(3) disposition of the fees;
(4) issuance of future obligations and creation of future liens, mortgages, and encumbrances against the improvements and facilities and the revenue of the improvements and facilities; and
(5) other pertinent matters.
(b) The covenants may not be inconsistent with this chapter.
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

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