Section 1371.051 - Authority to Issue Obligation As authorized and approved by the governing body of an issuer, the governing body may issue, sell, and deliver an obligation to:
(1) finance a project cost;(2) refund an obligation issued in connection with an eligible project; or(3) finance all or part of a payment owed or to be owed on:(A) the establishment of a credit agreement; or(B) the settlement or termination, at maturity or otherwise, of a credit agreement, whether the settlement or termination occurs: (i) at the option of the issuer or the other party to the credit agreement; or(ii) by operation of the terms of the credit agreement.Tex. Gov't. Code § 1371.051
Amended By Acts 2007, 80th Leg., R.S., Ch. 1310, Sec. 3, eff. 6/15/2007.Amended by Acts 2001, 77th Leg., ch. 769, Sec. 10, eff. 9/1/2001.Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.