Tex. Water Code § 49.153 · Subchapter E. FISCAL PROVISIONS
REVENUE NOTES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board, without the necessity of an election, may borrow money on negotiable or nonnegotiable notes of the district to be paid solely from the revenues derived from the ownership of all or any designated part of the district's works, plants, improvements, facilities, or equipment after deduction of the reasonable cost of maintaining and operating the facilities.
(b) The notes may be first or subordinate lien notes within the discretion of the board, but no obligation may ever be a charge on the property of the district or on taxes levied or collected by the district but shall be solely a charge on the revenues pledged for the payment of the obligation. No part of the obligation may ever be paid from taxes levied or collected by the district.
(c) Except as provided by Subsection (e), a district may not execute a note for a term longer than three years unless the commission issues an order approving the note.
(d) This section does not apply to special water authorities.
(e) Subsection (c) does not apply to:
(1) a note issued to and approved by:
(A) the Farmers Home Administration;
(B) the United States Department of Agriculture;
(C) the Texas Water Development Board;
(D) the North American Development Bank; or
(E) a federally chartered instrumentality of the United States authorized under 12 U.S.C. Section 2128(f) to provide financing for water and waste disposal facilities, provided that the district that executes the note is located wholly in a county that:
(i) does not contain a municipality that has a population of more than 750,000; and
(ii) is not adjacent to a county described by Subparagraph (i); or
(2) a district described by Section 49.181(h).
Notes and commentary — not statutory text
History
Added by Acts 1995, 74th Leg., ch. 715, Sec. 2, eff. Sept. 1, 1995. Amended by Acts 1997, 75th Leg., ch. 1070, Sec. 7, eff. Sept. 1, 1997; Acts 2003, 78th Leg., ch. 248, Sec. 11, eff. June 18, 2003; Acts 2003, 78th Leg., ch. 608, Sec. 7, eff. June 20, 2003.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 207 (H.B. 4), Sec. 2.19, eff. September 1, 2013.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/WA/htm/WA.49.htm
- Text hash
- sha256 c3249cca0f43c842b1c5d7b75f15501faba616a57e558e2b8df4dc4015f8810b
- 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.
Cited by 4 provisions
Provisions in this library whose text cites Tex. Water Code § 49.153. Each shows the citation as that text prints it.
Special District Local Laws Code
- Tex. Spec. Dist. Local Laws Code § 3833.253APPLICABILITY OF WATER DISTRICTS LAW ON GENERAL FISCAL PROVISIONS.Printed as Section 49.153, Water Code
- Tex. Spec. Dist. Local Laws Code § 8813.151REVENUE BONDS AND NOTES.Printed as Sections 49.153, 49.154, and 49.181, Water Code
- Tex. Spec. Dist. Local Laws Code § 8815.151REVENUE BONDS AND NOTES.Printed as Sections 49.153, 49.154, and 49.181, Water Code
- Tex. Spec. Dist. Local Laws Code § 8878.151REVENUE BONDS AND NOTES.Printed as Sections 49.153, 49.154, and 49.181, Water 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.