Tex. Gov't Code § 1431.008 · Chapter 1431. ANTICIPATION NOTES
AD VALOREM TAXES AS SOURCE OF PAYMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A governing body may not issue anticipation notes that are payable from bonds secured by an ad valorem tax unless the proposition authorizing the issuance of the bonds:
(1) is approved by a majority of the votes cast in an election held by the issuer; and
(2) states that anticipation notes may be issued.
(b) A governing body that pledges to the payment of anticipation notes an ad valorem tax to be imposed in a subsequent fiscal year shall impose the tax in the ordinance or order that authorizes the issuance of the notes.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1431.htm
- Text hash
- sha256 59b6b9a0fe10844ca27e40b29807802a7d99053f0b5c1df19cdc049efcc81a69
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.