Tex. Spec. Dist. Local Laws Code § 7805.155 · Subchapter D. BONDS AND TAXES
BOND ANTICIPATION NOTES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In addition to all other methods of acquiring funds for district purposes, the district may issue bond anticipation notes for any purpose for which district bonds have been voted or may be issued to refund outstanding bond anticipation notes and the interest on the notes being refunded.
(b) The notes may bear interest at any rate not to exceed the maximum interest rate applicable to the district's authorized bonds.
(c) The notes shall mature within one year of the date on which they are issued.
(d) The maximum amount of the notes outstanding at any one time may not exceed $500,000 without the prior consent of the City of Irving, Texas.
(e) The district shall pay the notes only from the proceeds of the sale of bonds by the district.
Notes and commentary — not statutory text
History
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.02, eff. April 1, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.7805.htm
- Text hash
- sha256 88f8d08231370e62c6ce094bfd38ca2db5799ccc328f7aff65baaafeedbdb945
- 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.