Tex. Spec. Dist. Local Laws Code § 7502.203 · Subchapter E. BONDS
SECURITY FOR REVENUE BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The principal of and interest on revenue bonds issued under this subchapter and the redemption price of the bonds must be secured by and payable solely from a pledge of all or any part of designated revenue resulting from the operations of the authority's water system.
(b) The board additionally may secure revenue bonds issued under this subchapter by a deed of trust or mortgage lien on all or part of the physical facilities of the authority as provided by Section 54.504, Water Code.
(c) The holders of revenue bonds issued under this subchapter may not demand payment from money raised or to be raised from taxation.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.05, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.7502.htm
- Text hash
- sha256 db7da42ddbf39355b84e7339ac48ebf6cacc1930bb5678a768effdf0104defde
- 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.