Tex. Water Code § 63.228 · Subchapter E. GENERAL FISCAL PROVISIONS
BORROWING MONEY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A district may borrow for any legal purpose from the United States or from any banking institution or other source not more than $250,000 to meet temporary needs, and may issue notes or other short term obligations other than bonds which will mature in not more than 10 years from their date and may pledge any securities owned by them or their surplus revenues.
(b) A district, in the acquisition of land necessary for the development of its ports and waterways both industrial and otherwise, may execute purchase money notes securing same with liens on the land being acquired or with a pledge of surplus revenue, or with both. The notes may bear interest at the rate determined by the commission.
Notes and commentary — not statutory text
History
Added by Acts 1971, 62nd Leg., p. 1448, ch. 404, Sec. 3, eff. May 26, 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.63.htm
- Text hash
- sha256 f6b36bc42a1ca546162474f75bc1ee245fb19aa49d51633fe5b515f8f3586e79
- 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.