Tex. Spec. Dist. Local Laws Code Section 5018.0204
Provisions of Certain Bond Resolutions or Orders; Authority to Adopt or Execute Other Proceedings or Instruments

(a)

In the resolution or order adopted by the board authorizing the issuance of bonds payable wholly or partly from net revenue, the board may:

(1)

provide for:

(A)

the flow of money; and

(B)

the establishment and maintenance of an interest and sinking fund, a reserve fund, and any other funds;

(2)

make any additional covenants with respect to the bonds, the pledged revenue, and the operation, maintenance, and upkeep of the improvements and facilities the income of which is pledged, including a provision for the leasing of all or a part of the improvements and facilities and the use or pledge of money derived from those leases, as the board considers appropriate;

(3)

prohibit the further issuance of bonds or other obligations payable from the pledged net revenue;

(4)

reserve the right to issue additional bonds to be secured by a pledge of and payable from the net revenue on a parity with, or subordinate to, the lien and pledge in support of the bonds being issued, subject to any conditions provided by the resolution or order; or

(5)

include any other provision or covenant, as determined by the board, that is not prohibited by the Texas Constitution or this chapter.

(b)

The board may adopt and execute any other proceeding or instrument necessary or convenient to issue the bonds.
Added by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.01, eff. April 1, 2021.

Source: Section 5018.0204 — Provisions of Certain Bond Resolutions or Orders; Authority to Adopt or Execute Other Proceedings or Instruments, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­5018.­htm#5018.­0204 (accessed Jun. 5, 2024).

5018.0001
Definitions 5018.0002
Findings of Benefit and Purpose 5018.0003
District Territory 5018.0004
Liberal Construction of Chapter 5018.0051
Board of Commissioners 5018.0052
Composition of Board 5018.0053
Polling Places 5018.0054
Commissioner’s Oath and Bond 5018.0055
Compensation of Commissioners 5018.0056
Vacancies 5018.0057
Officers and Employees 5018.0058
Officer’s or Employee’s Surety Bond 5018.0059
District Office 5018.0060
Conflict of Interest 5018.0101
General and Navigation District Powers 5018.0102
Powers Regarding Wharves, Docks, and Other Facilities 5018.0103
Limitation on Certain Powers 5018.0104
Bylaws and Rules 5018.0105
Acquisition of Property 5018.0106
Acquisition of Property from City of Orange 5018.0107
General Authority to Make Contracts and Execute Instruments 5018.0108
Authority to Sue and Be Sued 5018.0109
Seal 5018.0110
Powers and Limitations Regarding Levingston Island in Louisiana 5018.0151
Depository 5018.0152
Accounts, Contracts, and Other Records 5018.0153
Authority to Borrow Money, Accept Grants, and Issue Associated Bonds 5018.0154
Authority to Borrow Money for Current Expenses 5018.0155
Ad Valorem Tax for Maintenance and Operations 5018.0156
Imposition of Taxes 5018.0201
Definition 5018.0202
Authority to Issue Bonds 5018.0203
Election for Bonds Payable from Ad Valorem Taxes 5018.0204
Provisions of Certain Bond Resolutions or Orders 5018.0205
Form of Bonds 5018.0206
Maturity 5018.0207
Use of Bond Proceeds 5018.0208
Refunding Bonds 5018.0301
Definition 5018.0302
Reporting of Cargo and Vessel Movements
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 5018.0204’s source at texas​.gov