Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Government Code § 1373.008: MATURITY OR TERM OF OBLIGATIONS.

Where this section sits in the code

GOVERNMENT CODE
TITLE 9. PUBLIC SECURITIES
SUBTITLE F. SPECIFIC AUTHORITY FOR STATE OR LOCAL GOVERNMENT TO ISSUE SECURITIES
CHAPTER 1373. OBLIGATIONS FOR WATER PROJECTS

(a) The maximum maturity or term of an obligation issued or incurred pursuant to this chapter may not exceed the lesser of:

(1) the reasonably expected weighted average useful life of the eligible project as certified by a licensed professional engineer selected by the issuer; or

(2) 50 years from the date of issuance or incurrence of the obligation.

(b) The determination of reasonably expected weighted average useful life of an eligible project made under Subsection (a) may not be contested for any reason.

Added by Acts 2025, 89th Leg., R.S., Ch. 494 (S.B. 1261), Sec. 1, eff. September 1, 2025.

Collected 2026-08-27T01:47:16Z. Source file · JSON

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