Tex. Loc. Gov't Code § 271.042

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 271.042 - Purpose; Conflict

(a) It is the purpose of this subchapter to provide:

(1) a procedure for certain financing that is an alternative to the more cumbersome procedure under Chapter 252 or 262; and

(2) a new class of securities to be issued and delivered within the financial capabilities of an issuer on compliance with the procedures prescribed by this subchapter.

(b) If there is a conflict between a provision of this subchapter and a provision of Chapter 252 or 262, an issuer may use either provision, and it is not necessary for the governing body to designate the law under which action is being taken.

Tex. Loc. Gov't. Code § 271.042

Amended By Acts 2011, 82nd Leg., R.S., Ch. 285, Sec. 19, eff. 9/1/2011.

Amended by Acts 1999, 76th Leg., ch. 1064, Sec. 39, eff. 9/1/1999.

Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. 9/1/1987.