Tex. Gov't Code § 1477.064 · Subchapter B. BONDS FOR WATER SUPPLY FOR COUNTY PURPOSES
RATES AND CHARGES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If bonds issued under this subchapter are secured solely by a pledge of net revenue of the project, the commissioners court shall contract for and impose rates and charges for water supplied by the project that will be sufficient to:
(1) operate and maintain the project;
(2) pay when due the principal of and interest on the bonds; and
(3) establish any reserves provided in the order authorizing the issuance of the bonds.
(b) A bond secured solely by a pledge of net revenue:
(1) is not a debt of the county issuing the bond;
(2) may be a charge only on pledged revenue of a project;
(3) may not be included in determining the power of the county to issue bonds or incur other debt for any purpose authorized by law; and
(4) must contain the following provision: "The holder of this bond is not entitled to demand payment of this obligation out of any money raised by taxation."
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.1477.htm
- Text hash
- sha256 e5108d06ef1ee8b47645ae8c98d36e1cd902eb2dabb7d687f0beee9b8779af61
- 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.