Tex. Loc. Gov't Code § 281.071 · Subchapter E. REVENUE BONDS
ISSUANCE OF BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An authority may issue revenue bonds for any purpose set forth in Subchapters A through E when the issuance is authorized by a resolution adopted by the board. The bonds must be secured by a pledge of, and be payable from, all or a designated part of the authority's revenues from its facilities or any other source, including contract and lease proceeds.
(b) The bonds may mature serially or in any other manner. The bonds may not mature later than 40 years after the date of the bonds.
(c) The bonds shall bear interest at a rate that does not exceed the maximum interest rate authorized by Chapter 1204, Government Code.
(d) The bonds and the appurtenant interest coupons, if any, are investment securities under Chapter 8, Business & Commerce Code.
(e) As provided by the board, the bonds and interest coupons:
(1) may be issued registrable as to principal or as to both principal and interest; and
(2) may be made redeemable before maturity, at the option of the board, or may contain a mandatory redemption provision.
(f) In the resolution authorizing the issuance of the bonds, the board shall designate the form and denominations of the bonds; the manner, terms, conditions, and details of issuance; and the manner of signing and executing the bonds.
Notes and commentary — not statutory text
History
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.301, eff. Sept. 1, 2001.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.281.htm
- Text hash
- sha256 066896eb1c2e8c5c03b6ee9587fa16e9498adc0b2801fc39cdab5ff7450c3418
- 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
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
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.