Tex. Transp. Code § 460.508 · Subchapter G. BONDS AND NOTES
NOTES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An authority may issue negotiable notes payable from any of the authority's sources of revenue to pay for any lawful expenditure, other than principal and interest on the authority's debt.
(b) Notes issued by an authority shall be payable over a period not to exceed five years from the date of issuance.
(c) The Texas Commission on Environmental Quality is not required to approve notes issued under this section.
(d) An authority may not have outstanding notes in excess of $10 million at any one time.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1186, Sec. 1, eff. Sept. 1, 2001. Amended by Acts 2003, 78th Leg., ch. 306, Sec. 12, eff. Sept. 1, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 326 (H.B. 2682), Sec. 18, eff. September 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.460.htm
- Text hash
- sha256 bad476100020e7c47a8d777ab9f0850069c8c1ca88ac710014d955e1772b546e
- 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.