Texas Water Code
§ 6.114 — FINANCIAL ASSISTANCE PROGRAMS: DEFAULT, REMEDIES, AND ENFORCEMENT
WA § 6.114Title 2. WATER ADMINISTRATION · Part A. EXECUTIVE AGENCIES · Ch. 6. TEXAS WATER DEVELOPMENT BOARD · Art. D. GENERAL POWERS AND DUTIES OF THE BOARD
Statute text
View on source(a)In this section:
(1)"Default" means:
(A)default in payment of the principal of or interest on bonds, securities, or other obligations purchased or acquired by the board;
(B)failure to perform any covenant related to a bond, security, or other obligation purchased or acquired by the board;
(C)a failure to perform any of the terms of a loan, grant, or other financing agreement; or
(D)any other failure to perform an obligation, breach of a term of an agreement, or default as provided by any proceeding or agreement evidencing an obligation or agreement of a recipient, beneficiary, or guarantor of financial assistance provided by the board.
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Legislative history
Added by Acts 2011, 82nd Leg., R.S., Ch. 1233 (S.B. 660), Sec. 2, eff. September 1, 2011.