Tex. Spec. Dist. Local Laws Code § 1046.161 · Subchapter D. GENERAL FINANCIAL PROVISIONS
AUTHORITY TO BORROW MONEY; SECURITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The district may incur a debt or borrow money on the credit of the district or secured by any source of revenue, including district taxes to be imposed in the next 12-month period, that is not pledged to pay the principal of or interest on district bonds.
(b) The district may incur a debt or borrow money in any amount at a rate not to exceed the maximum annual percentage rate allowed by law for district obligations at the time the loan is made and on other terms the district considers advisable.
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.1046.htm
- Text hash
- sha256 8c02ba4738f1b24ac2444444e620ae555ad4c77a6b7c1e06479823482fb52ceb
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Spec. Dist. Local Laws Code § 1046.161. Each shows the citation as that text prints it.
Special District Local Laws Code
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