Tex. Spec. Dist. Local Laws Code § 9092.0505 · Subchapter E. BORROWED MONEY; BONDS
BONDS 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
(a) In this section, "net revenue" means the district's gross revenue less the amount necessary to pay the reasonable cost of maintaining and operating the district and the district's property.
(b) The board may issue bonds payable, as pledged by board resolution, from:
(1) all or part of the district's net revenue;
(2) the net revenue of one or more contracts made before or after the issuance of the bonds; or
(3) other revenue or income specified by board resolution or in the trust indenture.
(c) The pledge may reserve the right to issue additional bonds on a parity with, or subordinate to, the bonds being issued, subject to conditions specified by the pledge.
Notes and commentary — not statutory text
History
Added by Acts 2025, 89th Leg., R.S., Ch. 203 (H.B. 1615), Sec. 1.03, 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.9092.htm
- Text hash
- sha256 67cd4843a59bbf145636765f1af044e74204b31448967d19c5df19dc56fe384d
- 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.