An order authorizing the issuance of bonds under this subchapter may contain:

1. (1) reasonable and proper provisions for protecting and enforcing the rights or remedies of the bondholders, including covenants that state the duties of the county relating to:

   1. (A) the acquisition of property for the natural gas system;
   2. (B) the construction, maintenance, operation, repair, and insurance of the system; and
   3. (C) the custody, protection, and application of all money related to the system;
2. (2) a statement of the rights and remedies of the bondholders; and

3. (3) other provisions that the commissioners court considers reasonable and proper for the security of the bondholders, including covenants prescribing:

   1. (A) each event that constitutes a default; and
   2. (B) the rights, liabilities, powers, and duties that arise on the breach by the county of a duty or obligation.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.