Tex. Spec. Dist. Local Laws Code § 8501.252 · Subchapter F. OBLIGATIONS RELATING TO BORROWED MONEY
OBLIGATION PAYABLE FROM REVENUE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An obligation issued under this chapter by the authority may be made payable from and secured by a pledge of:
(1) all the revenue derived from the operations and devices of the authority's improvements and facilities, excluding any revenue derived from a tax or assessment;
(2) only the revenue derived from the operation of the authority's improvements and facilities acquired with the proceeds from the sale of the obligation; or
(3) a specific part of the revenue derived from the operation of the authority's improvements and facilities.
(b) The proceedings authorizing the issuance of the obligation must identify the method described by Subsection (a) that is to be used to pay and secure the obligation.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8501.htm
- Text hash
- sha256 47c7a4ec38b1c57ed4d6f6521193bf7b1ed848b2b8c8e10f5f3ecdf52ac08f35
- 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.