Tex. Spec. Dist. Local Laws Code § 8513.0701 · Subchapter G. BONDS, BORROWED MONEY, AND GRANTS
BORROWED MONEY AND GRANTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The authority may:
(1) borrow money for the authority's corporate purposes;
(2) execute proper notes and other evidence of indebtedness;
(3) borrow money or accept a grant from the United States or this state and, in connection with the loan or grant, enter into any agreement the United States or the corporation or agency may require;
(4) make and issue bonds for money borrowed, in the manner and to the extent provided by Sections 8513.0702, 8513.0703, 8513.0704, 8513.0705, and 8513.0706; and
(5) participate in and be the beneficiary of any plan that may be evolved by this state or the United States for guaranteeing or otherwise subsidizing the authority's obligations.
(b) After an ad valorem tax is approved at an election held under Section 8513.0602, the board may borrow money payable from the tax and may evidence the loan by a note given in the authority's name.
Notes and commentary — not statutory text
History
Added by Acts 2025, 89th Leg., R.S., Ch. 240 (H.B. 2692), Sec. 1, eff. May 29, 2025.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8513.htm
- Text hash
- sha256 61cbb013ee2022e0fd5021308a1c51e44acfc96d98c4fe7c695a402a2831aebf
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Special District Local Laws Code
- Tex. Spec. Dist. Local Laws Code § 8513.0602ELECTION FOR AD VALOREM TAX.Printed as Section 8513.0602
- Tex. Spec. Dist. Local Laws Code § 8513.0702POWER TO ISSUE BONDS.Printed as Sections 8513.0702, 8513.0703, 8513.0704, 8513.0705, and 8513.0706
- Tex. Spec. Dist. Local Laws Code § 8513.0703TERMS OF ISSUANCE.Printed as Sections 8513.0702, 8513.0703, 8513.0704, 8513.0705, and 8513.0706
- Tex. Spec. Dist. Local Laws Code § 8513.0704DEPOSIT OF PROCEEDS.Printed as Sections 8513.0702, 8513.0703, 8513.0704, 8513.0705, and 8513.0706
- Tex. Spec. Dist. Local Laws Code § 8513.0705RESOLUTION PROVISIONS.Printed as Sections 8513.0702, 8513.0703, 8513.0704, 8513.0705, and 8513.0706
- Tex. Spec. Dist. Local Laws Code § 8513.0706DEFAULT PROCEDURES.Printed as Sections 8513.0702, 8513.0703, 8513.0704, 8513.0705, and 8513.0706
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.