Tex. Spec. Dist. Local Laws Code § 1045.161 · Subchapter D. GENERAL FINANCIAL PROVISIONS
AUTHORITY TO BORROW MONEY; SECURITY.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board may borrow money for district operating expenses in an amount not to exceed the amount of tax or other revenue the district expects to receive during the fiscal year in which the money is borrowed.
(b) To repay the debt, the board may pledge all or part of the tax or other revenue received during the fiscal year in which the board borrows money under this section.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.1045.htm
- Text hash
- sha256 3624972607fe91c4b3d75e813c1e6498c496163e2570a335253c6d964de71a2a
- 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.