Tex. Spec. Dist. Local Laws Code § 8888.251 · Subchapter F. NOTES AND BONDS
REVENUE NOTES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board, without an election, may borrow money on negotiable notes of the authority payable solely from the revenue from any source, including:
(1) tolls, charges, and fees the authority imposes;
(2) the sale of water, water or sewer services, or any other service or product of the authority;
(3) grants or gifts;
(4) the ownership and operation of all or a designated part of the authority's works, improvements, facilities, plants, or equipment; and
(5) contracts between the authority and any person.
(b) The notes may be first or subordinate lien notes at the board's discretion. An obligation may not be a charge on the property of the authority. An obligation may only be a charge on revenue pledged for the payment of the obligation.
Notes and commentary — not statutory text
History
Added by Acts 2017, 85th Leg., R.S., Ch. 869 (H.B. 2803), Sec. 1.04, eff. April 1, 2019.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8888.htm
- Text hash
- sha256 17b5bcad94be306d0758e49fb843bcc2d15c1415b280b7529954293d64c80eaf
- 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
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Special District Local Laws Code
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