Tex. Spec. Dist. Local Laws Code § 3501.106 · Subchapter C. POWERS AND DUTIES
BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The authority may issue bonds if authorized by board resolution.
(b) A bond issued under this chapter must:
(1) be payable solely from authority revenue;
(2) mature not later than 40 years after its date of issuance; and
(3) state on its face that it is not an obligation of this state or a municipality.
(c) The authority may exercise the powers granted to the governing body of an issuer with regard to the issuance of obligations and the execution of credit agreements under Chapter 1371, Government Code.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 423 (S.B. 1751), Sec. 2, eff. June 17, 2005.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 288 (H.B. 4579), Sec. 8, eff. September 1, 2021.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3501.htm
- Text hash
- sha256 ce867c6812b4895d303eb508b0a2c32784f316aaed23d6db9666815081013b61
- 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
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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.