Tex. Spec. Dist. Local Laws Code § 11005.259 · Subchapter F. BONDS
RATES FOR SERVICES; PAYMENT OF REVENUE BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If district bonds payable wholly from revenue are issued, the board shall set the rates of compensation for water sold and services provided by the district. The rates must be sufficient to:
(1) pay the expense of operating and maintaining district facilities;
(2) pay the principal of and interest on the bonds when due; and
(3) maintain the reserve fund and other funds as provided in the resolution authorizing the bonds.
(b) If bonds payable partly from revenue are issued, the board shall set the rate of compensation for water sold and any other services provided by the district. The rate must be sufficient to ensure compliance with the resolution authorizing the bonds or the trust indenture securing the bonds.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.07, eff. April 1, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.11005.htm
- Text hash
- sha256 5fc0d802064da34982c98add12280e4fe6a0144d83d3c659ccfe2c4d4057413a
- 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.