Tex. Spec. Dist. Local Laws Code § 9601.204 · Subchapter E. BONDS
BONDS SECURED BY REVENUE; ADDITIONAL BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Bonds may be secured by a pledge of all or part of the district's revenue, or by all or part of the payments or rentals under one or more contracts or leases specified by the proceedings authorizing the issuance of the bonds.
(b) The proceedings authorizing the issuance of bonds secured by a pledge of revenue of all or part of the district's facilities may provide that the district shall first pay the expenses of operating and maintaining all or part of the facilities as the board considers appropriate before paying the principal of and interest on the bonds.
(c) In the proceedings authorizing the issuance of bonds secured by revenue, contract payments, or lease rentals, the district may reserve the right, under conditions specified by the proceedings, to issue additional bonds that will be on a parity with, superior to, or subordinate to the bonds then being issued.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 523 (S.B. 1223), Sec. 1, eff. June 19, 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.9601.htm
- Text hash
- sha256 9610e236dbd740cafc8f1cdb727f111d1a109d5d606dcfd6700cd313f4b82d9b
- 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.