Tex. Water Code Section 60.108
Issuance of Obligations

(a)

The commission may provide that obligations issued under this subchapter are payable annually or semiannually and may issue the obligations in any denominations and may have them mature serially or at one time not more than 40 years from their date.

(b)

The obligations shall be signed by the chairman and secretary of the commission, and the interest coupons attached to the obligations may be executed with the facsimile signatures of these officers. The obligations shall be valid and sufficient for all purposes even though the officers whose signatures are on the obligations or coupons cease to be officers before delivery to the purchaser.

(c)

Any obligations issued under this subchapter shall be in registered or coupon form, and if the obligations are in coupon form, they may be registered with relation to principal only or with relation to both principal and interest.

(d)

The commission may sell the obligations in the manner and at the time which it considers expedient and necessary to the interests of the district.

(e)

The commission may make principal and interest on the obligations payable at any place or places inside or outside the State of Texas and may make the obligations redeemable before maturity at the premium determined by the commission.

(f)

Each issue of obligations authorized under this subchapter shall constitute a separate series which shall be appropriately designated. These obligations constitute negotiable instruments within the meaning of the negotiable instruments law.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.

Source: Section 60.108 — Issuance of Obligations, https://statutes.­capitol.­texas.­gov/Docs/WA/htm/WA.­60.­htm#60.­108 (accessed Jun. 5, 2024).

60.001
Definitions 60.002
Audit 60.003
Authority to Contract for the Operation or Development of a District 60.004
Act or Proceeding of District Presumed Valid 60.005
Exemption from Taxation and Special Assessments 60.011
Creation of Retirement, Disability, and Death Compensation Fund 60.013
Eligibility for Other Pension Funds 60.014
Hospitalization and Medical Benefits 60.021
Definitions 60.022
Establishment of Employee Catastrophic Assistance Program 60.023
Employee Contribution to District Assistance Fund 60.024
Transfers from District Assistance Fund to Employees 60.031
Application of Subchapter 60.032
Authority to Construct Improvements 60.033
Use of Equipment 60.034
Oil, Gas, and Mineral Leases 60.035
Notice of Certain Oil, Gas, and Mineral Leases 60.036
Security for Bid on Oil, Gas, or Mineral Leases 60.037
Award and Execution of Oil, Gas, and Mineral Leases 60.038
Disposition of Interests in Real Property 60.039
Surface Lease 60.043
Power over Waterways 60.044
Law Governing Commission 60.071
General Rule-making Authority 60.072
Specific Powers of Districts 60.073
Enforcement 60.074
Style of Ordinances 60.075
Publication of Ordinance, Rule, or Regulation 60.076
Conflict with Law 60.077
Authority of Peace Officers 60.078
Penalties 60.079
Jurisdiction of Violations 60.101
Acquisition and Maintenance of Port Facilities 60.102
Utility Relocation 60.103
Prescribing Fees and Charges 60.104
Power to Borrow Money 60.105
Expenses to Be Paid from Current Revenues 60.106
Pledge of Revenue for Payment of Obligations 60.107
Mortgage as Additional Security 60.108
Issuance of Obligations 60.109
Sinking Fund 60.110
Revenue Set Aside for Sinking Fund 60.111
Deposit of Proceeds of Obligations 60.112
Insuring Improvements to Protect Holders of Obligations 60.113
Compelling Performance of Duties 60.114
Obligations Exempt from Taxation 60.115
Refunding Obligations 60.116
Approval and Registration of Bonds 60.117
Bonds as Investments 60.118
Board of Trustees of Facility 60.119
Covenants for Management and Operation of Improvements 60.120
Contracts, Leases, and Agreements Authorized 60.121
Conversion of District 60.122
Improvements Not Payable from Taxes 60.123
Pilot and Pilotage Laws Unaffected 60.124
Gifts, Grants, and Donations 60.151
Purpose 60.152
Authority to Enter into Contract 60.153
Execution of Contracts 60.171
Authority to Borrow Money and Encumber Property and Franchise 60.172
Notice of Hearing on Indebtedness 60.173
Hearing on Indebtedness 60.174
Issuance of Obligations 60.175
Execution and Sale of Obligations 60.176
Obligations as Charge on Encumbered Property and Facilities 60.177
Lien on Revenue 60.178
Trustee to Enforce Foreclosure 60.179
Borrowing for Current Expenses 60.180
Management and Control by Commission 60.181
Proceedings to Borrow Money 60.201
Purpose 60.202
Creation of Fund 60.203
Expenditure of Fund 60.204
Management and Control of Promotion and Development Fund 60.205
Other Expenses Not Affected 60.221
Modification of Revenue Bond Resolution 60.241
Authority to Convert 60.242
Resolution 60.243
Notice of Resolution 60.244
Findings 60.245
Status of Converted District 60.246
Powers of Converted District 60.247
Optional Election 60.248
Effect of Election 60.249
Effect of Optional Conversion 60.271
Selection of Depository 60.272
Depository Bond 60.273
Treasurer’s Bond 60.301
Authority to Issue Refunding Bonds 60.331
Classes of Bonds Authorized 60.332
Issuance of Bonds 60.333
Form of Bonds 60.334
Maturity of Bonds 60.335
Registered and Bearer Bonds 60.336
Lost and Destroyed Bonds 60.337
Approval of Converted or Substituted Bonds 60.338
Bonds Secured by Revenues 60.339
Bonds Payable from Taxes 60.340
Bonds Payable from Both Taxes and Revenues 60.341
Rates, Tolls, and Charges 60.342
Use of Bond Proceeds 60.343
Interim Bonds 60.344
Refunding Bonds 60.345
Approval and Incontestability of Bonds 60.346
Additional Security 60.347
Investment of Bond Proceeds 60.348
Bonds as Investments 60.349
Effect of Subchapter 60.0381
Conveyance of Land by Certain Navigation Districts 60.401
Application of Subchapter 60.402
Definitions 60.403
Contracts: Purchases 60.404
Competitive Bidding Requirements 60.405
Proposal Procedures 60.406
Competitive Bidding and Proposal Procedures Required for Certain Contracts 60.407
Opening Sealed Proposals and Bids 60.408
Contract Award 60.409
Pricing Method 60.410
Changes in Plans and Specifications 60.411
Bond Requirements 60.412
Exemptions 60.413
Criminal Penalty 60.414
Application of Other Law 60.451
Definitions 60.452
Applicability of Subchapter 60.453
Authority to Adopt Rules 60.454
Purchasing Contract Methods 60.455
Right to Reject All Bids 60.456
Notice Requirements 60.457
Delegation 60.458
Purchase Contract Award Criteria 60.459
Evaluation of Bids and Proposals for Construction Services 60.460
Design-build Contracts for Facilities 60.461
Contracts for Facilities: Construction Manager-agent 60.462
Contracts for Facilities: Construction Manager-at-risk 60.463
Selecting Contractor for Construction Services Through Competitive Sealed Proposals 60.464
Job Order Contracts for Facilities Construction or Repair 60.501
Safety and Security Procedures 60.502
Implied Contracts 60.551
Definitions 60.552
Authorization of Campaign 60.553
Deduction Authorized 60.554
Voluntary Participation 60.555
Designation of an Eligible Charitable Organization 60.556
Confidentiality 60.557
Revocation or Change of Authorization 60.558
Duration of Deduction 60.559
Fair and Equitable Management of Campaign 60.560
Campaign Policy and Management 60.561
Eligibility of Charitable Organizations, Federations, and Funds for Participation 60.562
Fund-raising Practices 60.563
Limitation on Use of Contributions 60.564
Misapplication of Contributions 60.0725
Nuisances 60.0726
Fires, Explosions, and Hazardous Materials Incidents 60.0775
Police Reserve Force 60.4035
Contracts: Emergency Purchases 60.4115
Notification of Safety and Environmental Record of Contractor 60.4125
Alternative Methods for Certain Purchases or Contracts
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Accessed:
Jun. 5, 2024

§ 60.108’s source at texas​.gov