Texas § WA.17.858 - ACQUISITION OF ACQUIRED OBLIGATIONS
Full text of Texas The Texas Constitution § WA.17.858 — ACQUISITION OF ACQUIRED OBLIGATIONS, with citation guidance and answers to common questions.
§ WA.17.858. ACQUISITION OF ACQUIRED OBLIGATIONS
ACQUISITION OF ACQUIRED OBLIGATIONS. (a) If the board approves an application for financial assistance under this subchapter and is to purchase acquired obligations from a participant, the acquired obligations resolution must: (1) provide for development, construction, and operation of the project by the participant or a person contracting with the participant; and (2) provide that the participant shall make sufficient payments to the board to service the acquired obligations from: (A) all or part of the revenues from the ownership or operation of the project; (B) all or part of any other revenues or funds that may lawfully be pledged by the participant; (C) taxes levied by the participant or other users of the project; or (D) any combination of Paragraphs (A), (B), and (C) of this subdivision. (b) The acquired obligations purchased by the board pursuant to this subchapter shall bear rates of interest and mature in amounts and at times as may be reasonably expected to provide funds for orderly payment of the revenue bonds issued by the board. Added by Acts 1987, 70th Leg., ch. 420, Sec. 3, eff. June 17, 1987.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § WA.17.858
What does The Texas Constitution § WA.17.858 cover?
Section WA.17.858 ("ACQUISITION OF ACQUIRED OBLIGATIONS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § WA.17.858?
A common citation format is "The Texas Constitution § WA.17.858" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § WA.17.858 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.