Tex. Spec. Dist. Local Laws Code § 8512.0503 · Subchapter E. BORROWED MONEY AND GRANTS
OBLIGATION PAYABLE FROM REVENUE.
Not yet in force
Text of section effective on April 01, 2027
Text — Current through the 89th 2nd Called Legislative Session, 2025
An authority debt, liability, or obligation for the payment of money, however entered into or incurred and whether arising from an express or implied contract or otherwise, is payable:
(1) out of the revenue the authority receives with respect to the authority's properties, subject to any prior lien on the revenue conferred by any resolution previously adopted as provided by this chapter authorizing the issuance of bonds; or
(2) if the board so determines, out of the proceeds of sale by the authority of bonds payable solely from revenue described by Subdivision (1).
Notes and commentary — not statutory text
History
Added by Acts 2025, 89th Leg., R.S., Ch. 203 (H.B. 1615), Sec. 1.02, eff. April 1, 2027.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8512.htm
- Text hash
- sha256 1cf40727132b4255b6e227e9853b0609c4500ad2a2388a57c0cd8a93e8322926
- 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.