Tex. Util. Code § 163.067 · Subchapter C. MUNICIPAL POWER AGENCIES
NONNEGOTIABLE PURCHASE MONEY NOTES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The agency may issue nonnegotiable purchase money notes to acquire land or fuel resources.
(b) Nonnegotiable purchase money notes are:
(1) payable in installments;
(2) secured by the property acquired with the notes or other collateral the agency substitutes; and
(3) not a security or agency obligation.
(c) Nonnegotiable purchase money notes may be further secured by a promise to issue bonds or bond anticipation notes to pay the purchase money notes.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/UT/htm/UT.163.htm
- Text hash
- sha256 3c832bb80243bc9774b5149daedd33b08188b10b7d642d401ff37dd0913d7c68
- 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
Cited by 2 provisions
Provisions in this library whose text cites Tex. Util. Code § 163.067. Each shows the citation as that text prints it.
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.