(a) An agreement between political subdivisions establishing an interest in electric utility facilities that is executed under this chapter shall be submitted to the attorney general in connection with any proceeding to finance the contractual obligation by the issuance of bonds.
(b) An agreement submitted under Subsection (a) is incontestable on approval as to legality by the attorney general.

Terms Used In Texas Utilities Code 164.003

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.