Tex. Health & Safety Code § 362.031 · Subchapter C. BONDS
AUTHORITY TO ISSUE BONDS AND BOND ANTICIPATION NOTES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An issuer may issue bonds, payable from revenues of the issuer, to finance or refinance the cost of acquiring, constructing, or improving a system.
(b) The bonds may be issued in more than one series and from time to time as required to carry out the purposes of this chapter.
(c) The issuer may declare an emergency because funds are not available to pay the principal of and interest on its bonds or to meet other needs of the issuer and may issue bond anticipation notes to borrow the needed money. The bond anticipation notes may bear interest at any fixed, floating, or other type of rate, and must mature within one year of their date. The bond anticipation notes shall be paid with the proceeds of bonds, or bonds may be issued and delivered in exchange for and in substitution of the notes.
Notes and commentary — not statutory text
History
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/HS/htm/HS.362.htm
- Text hash
- sha256 59202ae3e6251ff9eeccdd9bca2eae721eb8b08b49d1f9e691abd0917537cf2e
- 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.