Tex. Spec. Dist. Local Laws Code § 8506.204 · Subchapter E. OBLIGATIONS RELATING TO BORROWED MONEY OR GRANTS
POWER TO ISSUE REVENUE BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The authority may issue revenue bonds for any corporate purpose in any amount authorized by the directors but not to exceed an aggregate principal amount of $6 million.
(b) The bonds may be secured only by a pledge of the amounts granted or donated by this state or out of any other current revenue of the district, which amounts shall be paid to the legal holders of the bonds.
(c) The bonds must be authorized by a board resolution.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.05, eff. April 1, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8506.htm
- Text hash
- sha256 fe4a8c371f8bdb0dc4bb7a9c90936eebad23448d88bc0b612de99db86fe3c8c2
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Spec. Dist. Local Laws Code § 8506.204. Each shows the citation as that text prints it.
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