Tex. Water Code § 51.450 · Subchapter K. ISSUANCE OF BONDS
ALTERNATE METHODS FOR PAYING BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) As used in this section and in Sections 51.450-51.454 of this code, "net revenue" means income or increment which may come from ownership and operation of the improvements which are encumbered less the proportion of the district's revenue income reasonably required to provide for administration, efficient operation, and adequate maintenance of the district's services and facilities which are encumbered. Net revenue does not include money derived from taxation.
(b) A district which expects net revenue from operations may secure its bonds in any one of the following:
(1) as provided in Section 51.433 of this code;
(2) by entering into a contract to pledge the net revenue of the district and to mortgage and encumber part or all of the property and facilities, franchise, revenue and income from operations, and everything acquired or to be acquired by the district; or
(3) as provided in both Subdivisions (1) and (2) of this subsection.
Notes and commentary — not statutory text
History
Acts 1971, 62nd Leg., p. 347, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/WA/htm/WA.51.htm
- Text hash
- sha256 91f96b40854787b51fdf43575fbad631589516b7290e60b7385935b178fa41d0
- 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 § 51.450. Each shows the citation as that text prints it.
Water Code
- Tex. Water Code § 51.451TAXES TO SECURE CERTAIN BONDS.Printed as Section 51.450(b)(3)
- Tex. Water Code § 51.452ELECTION.Printed as Section 51.450(b)(2) or 51.450(b)(3)
- Tex. Water Code § 51.454HEARING BEFORE ISSUING CERTAIN BONDS.Printed as Section 51.450(b)(2)
- Tex. Water Code § 51.455ISSUANCE OF REVENUE BONDS TO CONSTRUCT EXTENSIONS AND IMPROVEMENTS TO CERTAIN SYSTEMS.Printed as Section 51.450(b)(2)
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.