Texas Statutes
Subchapter G. Obligations Relating to Borrowed Money
Section 8504.302. Covenants for Marketability

Sec. 8504.302. COVENANTS FOR MARKETABILITY. (a) As considered necessary to ensure the marketability of obligations issued under this chapter, a resolution or order authorizing issuance may contain covenants with the holders of the obligations as to:
(1) the management and operation of the authority's improvements and facilities;
(2) the collection of fees and charges for the use of the improvements and facilities;
(3) the disposition of the fees and charges;
(4) the issuance of future obligations and the 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) A covenant under this section may not be inconsistent with this chapter.
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.04, eff. April 1, 2015.

Structure Texas Statutes