Tex. Spec. Dist. Local Laws Code § 9051.252 · Subchapter F. BONDS
ISSUANCE OF BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) To accomplish district purposes, the board may borrow money, issue bonds, and prescribe the method of payment of the bonds by the use of net revenue, taxes, or both net revenue and taxes.
(b) Bonds must be authorized by a board resolution.
(c) In the resolution authorizing the bonds, the district may set aside an amount from the bond proceeds for:
(1) the payment of interest expected to accrue during construction; and
(2) a reserve interest and sinking fund.
(d) Bond proceeds may be used to pay all expenses necessarily incurred in accomplishing district purposes, including the expenses of issuing and selling the bonds.
(e) Pending the use of bond proceeds for the purpose for which the bonds were issued, the board may invest the proceeds in obligations of the United States.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.9051.htm
- Text hash
- sha256 89c4f9c516790538fbb2cb3d9b5a32fc48369cc3860c77c50d06424fbecab5ca
- 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.