Tex. Water Code § 60.338 · Subchapter M. TAX BONDS, REVENUE BONDS, AND COMBINATION TAX AND REVENUE BONDS
BONDS SECURED BY REVENUES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Bonds secured wholly or in part by a pledge of the revenues of the district may be secured by all or that part of the revenues specified in the resolution authorizing the bonds or in the indenture securing the bonds.
(b) In making any pledge of the revenues, the right under the conditions specified to issue additional bonds which will be on a parity with, senior to, or subordinate to the bonds then being issued, may be expressly reserved.
(c) Within the discretion of the governing body, bonds may be secured further by a lien on all or any part of the physical property of the district.
Notes and commentary — not statutory text
History
Added by Acts 1973, 63rd Leg., p. 770, ch. 343, Sec. 1, eff. Aug. 27, 1973.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/WA/htm/WA.60.htm
- Text hash
- sha256 7d1deed857c25c0e73f821bf6cf22e2b2c6d65e9d898ed9d54b121ed1f06bb1c
- 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
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.