Tex. Spec. Dist. Local Laws Code Section 9601.212
Additional Authority to Provide Debt Service Reserve

(a)

The board may provide that in lieu of or in addition to providing for the funding of a debt service reserve fund with cash, a line or letter of credit or an insurance policy may be used for the debt service reserve fund.

(b)

Any agreement under which a line or letter of credit or insurance policy is provided must be submitted to the attorney general for examination and approval. After approval, the agreement is incontestable in any court or other forum for any reason and is a valid and binding obligation of the district in accordance with its terms for all purposes.

Added by Acts 2009, 81st Leg., R.S., Ch. 523 (S.B. 1223), Sec. 1, eff. June 19, 2009.

Source: Section 9601.212 — Additional Authority to Provide Debt Service Reserve, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.9601.htm#9601.212 (accessed Jun. 5, 2024).

9601.001
Definitions 9601.002
Nature of District 9601.003
Findings of Benefit and Public Purpose 9601.004
Liberal Construction of Chapter 9601.005
District Members 9601.006
District Territory 9601.007
Confirmation Election Not Required 9601.008
Member Immunity 9601.051
Composition of Board 9601.052
Qualifications for Office 9601.053
Board Resolutions 9601.054
Officers and Assistants 9601.055
Meetings 9601.056
Telephone Conference Call Meetings 9601.057
Recall 9601.058
Compensation 9601.078
Immunity from Suit 9601.101
General Powers 9601.102
Specific Powers 9601.103
General Powers Regarding Water 9601.104
Authority of Public Agencies and Political Subdivisions to Contract with District 9601.105
Conveyance of Property to District 9601.106
Acquisition of Existing Facilities 9601.151
Prohibition on Assessments or Taxes 9601.152
Depository 9601.153
Investment of District Money 9601.154
District Facilities Exempt from Taxation and Assessment 9601.201
Authority to Issue Bonds 9601.202
Form of Bonds 9601.203
Maturity 9601.204
Bonds Secured by Revenue 9601.205
Additional Security 9601.206
Delegation of Authority 9601.207
Trust Indenture 9601.208
Credit Agreement 9601.209
Charges for District Services 9601.210
State Pledge Regarding Rights and Remedies of Bondholders 9601.211
Use of Bond Proceeds 9601.212
Additional Authority to Provide Debt Service Reserve 9601.213
Refunding Bonds 9601.214
Remedies and Covenants 9601.215
Limitation on Rights of Bondholders 9601.216
Bonds Exempt from Taxation 9601.217
Appointment of Receiver

Accessed:
Jun. 5, 2024

§ 9601.212’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._spec._dist._local_laws_code_section_9601.212

Original Source: Section 9601.212 — Additional Authority to Provide Debt Service Reserve, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.9601.htm#9601.212 (last accessed Jun. 5, 2024).