15.205 – INSURANCE. The board may pledge the general
Texas Water Code § 15.205
Summary
This law allows the board to use the state's general credit to insure payments on eligible bonds if there is a risk of default. It primarily affects issuers of bonds who may seek this insurance for financial security. This provision helps maintain investor confidence in the bond market.
Board can pledge state credit for bond insurance.
Applies to eligible bonds facing default risks.
Supports financial stability in the bond market.
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In simple terms: Learn about Texas's INSURANCE. The board may pledge the general 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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