Texas Water Code 17.955 – Persons Designated to Act as Agents of Board
(a) In the resolution the board may delegate authority to one or more officers, employees, or agents designated by the board to act on behalf of the board during the time any series of water financial assistance bonds are outstanding to:
(1) fix dates, prices, interest rates, amortization schedules, redemption features, and interest payment periods;
(2) perform duties and obligations of the board under a bond enhancement agreement; and
(3) perform other procedures specified in the resolution.
(b) The person designated by the board may adjust the interest on water financial assistance bonds and perform all duties described in a bond enhancement agreement as necessary to permit the water financial assistance bonds to be sold or resold at par in conjunction with secondary market transactions.
Terms Used In Texas Water Code 17.955
- Amortization: Paying off a loan by regular installments.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005