Sec. 21.406. BOND PROVISIONS. (a) In an order or resolution authorizing the issuance of bonds, including refunding bonds, the board may:
(1) provide for the flow of money;
(2) provide for the establishment and maintenance of an interest and sinking fund, a reserve fund, and other funds; and
(3) prohibit the further issuance of bonds or other obligations payable from the pledged fees or reserve the right to issue additional bonds to be secured by a pledge of and payable from the pledged fees on a parity with or subordinate to the pledge in support of the bonds being issued; and
(4) provide for other provisions as the board determines.
(b) The board may adopt and have executed any other proceeding or instrument necessary and convenient in the issuance of bonds.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.01, eff. April 1, 2009.
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