Tex. Spec. Dist. Local Laws Code § 11006.255 · Subchapter F. BONDS
BONDS SECURED BY REVENUE; ADDITIONAL BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Authority bonds issued may be secured by a pledge of all or part of the authority's revenue or by all or part of the revenue of one or more contracts made or other revenue or income specified by board resolution or a trust indenture securing the bonds. The pledge may reserve the right, under conditions specified by the pledge, to issue additional bonds that will be on a parity with or subordinate to the bonds then being issued.
(b) The authority may issue bonds secured by both taxes and revenue of the authority described by Subsection (a).
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.11006.htm
- Text hash
- sha256 fa621583799aded76c380fc2e20bed023c1f3f85b75f786e2d071ec14fe4860e
- 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.