Tex. Spec. Dist. Local Laws Code § 6913.254 · Subchapter F. BONDS
BONDS PAYABLE FROM REVENUE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "net revenue" means the district's gross revenue, other than taxation, minus the amount necessary to pay the cost of maintaining and operating the district and its property.
(b) District bonds may be secured as described by a board resolution by a pledge of:
(1) all or part of the district's net revenue;
(2) the net revenue of a contract made at any time; or
(3) other revenue specified by board resolution.
(c) The pledge may reserve the right to issue additional bonds on a parity with or subordinate to the bonds being issued, subject to conditions specified by the pledge.
(d) District bonds not payable wholly or partly from ad valorem taxes may be issued without an election.
Notes and commentary — not statutory text
History
Added by Acts 2017, 85th Leg., R.S., Ch. 869 (H.B. 2803), Sec. 1.02, eff. April 1, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.6913.htm
- Text hash
- sha256 8ba01b4947343874df53ce15aeb80a42d08b5422c106372da1a26f656c618b2b
- 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.