Tex. Spec. Dist. Local Laws Code § 8510.0507 · Subchapter E. BORROWED MONEY OR GRANTS
BONDS PAYABLE FROM REVENUE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "net revenue" means the authority's gross revenue less the amount necessary to pay the cost of maintaining and operating the authority and the authority's property.
(b) Authority bonds may be secured by a pledge of:
(1) all or part of the authority's net revenue;
(2) the net revenue of a contract entered into at any time; or
(3) other revenue specified by board resolution.
(c) The pledge may reserve the right to issue additional bonds on a parity with or subordinate to the bonds being issued, subject to conditions specified by the pledge.
Notes and commentary — not statutory text
History
Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.03, eff. April 1, 2023.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8510.htm
- Text hash
- sha256 93e97b60a2b3e02f144b5ee05bbddd88beb460a043497dc750ec0a591b325aff
- 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 2 provisions
Provisions in this library whose text cites Tex. Spec. Dist. Local Laws Code § 8510.0507. Each shows the citation as that text prints it.
Special District Local Laws Code
- Tex. Spec. Dist. Local Laws Code § 8510.0309POWERS RELATING TO WASTE FACILITIES; BONDS.Printed as Sections 8510.0504, 8510.0505, 8510.0506, 8510.0507, 8510.0508, 8510.0509, 8510.0510, 8510.0511, and 8510.0512
- Tex. Spec. Dist. Local Laws Code § 8510.0310ADDITIONAL POWERS OF AUTHORITY AND OTHER PERSONS; BONDS.Printed as Sections 8510.0504, 8510.0505, 8510.0506, 8510.0507, 8510.0508, 8510.0510, and 8510.0511
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.