Tex. Water Code § 55.525 · Subchapter L. ISSUANCE OF BONDS
LIMITING DISTRICT'S POWER TO INCUR DEBT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board of any district operating under the provisions of Article XVI, Section 59, of the Texas Constitution, may limit the power of the district to incur debt and issue bonds in the manner provided by this subchapter.
(b) The board may adopt a resolution declaring that for a period of not more than 10 years the district may not issue bonds in excess of 25 percent of the assessed value of taxable property of the district according to the last assessment for district purposes.
Notes and commentary — not statutory text
History
Acts 1971, 62nd Leg., p. 472, 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.55.htm
- Text hash
- sha256 9e2682a840dc149237cc1c961ef086a6baa9d131ee3cf882124a320fd1286b44
- 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
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