1232.1071 – ISSUANCE OF OBLIGATIONS FOR FINANCING STRANDED
Texas Government Code § 1232.1071
Summary
This law allows a municipal power agency to issue obligations to finance stranded costs incurred before November 1, 1979. It specifically applies to agencies created by member cities under certain utility statutes.
Enables financing for stranded costs of specific municipal power agencies.
Applies to agencies established by member cities before November 1, 1979.
Allows issuance of obligations directly or through trusts.
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In simple terms: Learn about Texas's ISSUANCE OF OBLIGATIONS FOR FINANCING STRANDED law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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