Tex. Water Code § 15.904 · Subchapter O. PROGRAM FOR WATER AND WASTEWATER FINANCIAL ASSISTANCE FOR DISADVANTAGED RURAL COMMUNITIES
USE OF SALES TAX AS LOAN SECURITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A political subdivision or water supply corporation may pledge a percentage of its revenue to the payment of debt incurred under a loan agreement entered into with the board under this subchapter. A municipality or county may pledge a percentage of the sales and use tax revenue received under Chapter 321 or 323, Tax Code, as applicable, to the payment of debt incurred under a loan agreement entered into with the board under this subchapter if a majority of the voters voting at an election called and held for that purpose authorize the municipality or county to pledge a portion of that revenue for that purpose.
(b) Sections 321.506, 321.507, and 323.505, Tax Code, do not apply to taxes pledged under this subchapter.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1234, Sec. 22, eff. Sept. 1, 2001.
Amended by:
Acts 2005, 79th Leg., Ch. 1151 (H.B. 3029), Sec. 6, eff. June 18, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/WA/htm/WA.15.htm
- Text hash
- sha256 7bcec19858a011ce735940c8f1fc61982881631884734c835575f04209432adf
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Tax Code
- Tex. Tax Code § 321.506USE OF TAX REVENUE BY MUNICIPALITY.Printed as Sections 321.506, 321.507, and 323.505, Tax Code
- Tex. Tax Code § 321.507USE OF ADDITIONAL MUNICIPAL SALES AND USE TAX.Printed as Sections 321.506, 321.507, and 323.505, Tax Code
- Tex. Tax Code § 323.505USE OF TAX REVENUE.Printed as Sections 321.506, 321.507, and 323.505, Tax Code
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.