Tex. Loc. Gov't Code § 254.054 · Subchapter C. OBLIGATIONS
LIMITATION ON AGGREGATE AMOUNT OF EXPENSE NOTES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
The aggregate amount of expense notes issued under Section 254.053(2) that are outstanding at any time during a fiscal year may not exceed 50 percent of the difference between:
(1) the revenue of the board budgeted for that fiscal year; and
(2) the principal of and interest on board obligations other than expense notes to be paid from the revenue of the board during that fiscal year.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 9, 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/LG/htm/LG.254.htm
- Text hash
- sha256 856a44fe211761cc48d0b7b0fef5388afd317079cb3cb1d9c4c984cf57c5d5b1
- 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
This section cites
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