Texas Water Code

§ 15.205 — INSURANCE

WA § 15.205Title 2. WATER ADMINISTRATION · Part C. WATER DEVELOPMENT · Ch. 15. TEXAS WATER ASSISTANCE PROGRAM · Art. D. WATER BOND INSURANCE PROGRAM

Statute text

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The board may pledge the general credit of the state, to the extent authorized by Article III, Section 49-d-4, of the Texas Constitution, to insure the payment of the principal of or interest on or both the principal of and interest on eligible bonds issued by an issuer in the event of default or impending default of the insured bonds.

Legislative history

Added by Acts 1985, 69th Leg., ch. 133, Sec. 2.05.