Tex. Spec. Dist. Local Laws Code § 7811.204 · Subchapter E. GENERAL FINANCIAL PROVISIONS
BOND ANTICIPATION NOTES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In addition to all other methods of acquiring money 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 maximum amount of the notes outstanding at any one time may not exceed $500,000 without the prior consent of both constituent municipalities.
(d) 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 2017, 85th Leg., R.S., Ch. 869 (H.B. 2803), Sec. 1.03, 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.7811.htm
- Text hash
- sha256 cf8dca912585b2d8a19493c59ccfc5f3dd3b7f28cba8f98bad18ba89d218ac1f
- 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.