Tex. Spec. Dist. Local Laws Code § 9011.255 · Subchapter F. BONDS
BONDS PAYABLE FROM REVENUE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "net revenue" means the gross revenue of the district less the amount necessary to pay the cost of maintaining and operating the district and its property.
(b) Bonds issued under this subchapter may be secured under board resolution by a pledge of:
(1) all or part of the net revenue of the district;
(2) the net revenue of one or more contracts made before or after the issuance of the bonds; or
(3) other revenue specified by resolution of the board.
(c) The pledge may reserve the right to issue additional bonds on a parity with, or subordinate to, the bond being issued, subject to the conditions specified in the pledge.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.12, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.9011.htm
- Text hash
- sha256 9261a8aeb5cdd4f7d722e25e83af52a76772ca1a7d9766ae2899d84e871c3190
- 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.