STATE NOT TO IMPAIR BOND OBLIGATIONS

Sec. 203.260. STATE NOT TO IMPAIR BOND OBLIGATIONS. If bonds under this subchapter are outstanding, the state may not: (1) take action to limit or restrict the rights of the commission to fulfill its responsibility to pay bond obligations; or (2) in any way impair the rights and remedies of the bond owners until the bonds are fully discharged. Added by Acts 2003, 78th Leg., ch. 317, Sec. 5, eff. June 18, 2003; Acts 2003, 78th Leg., ch. 817, Sec. 6.05, eff. June 20, 2003.