Tex. Spec. Dist. Local Laws Code Section 5201.053
Security for Bonds

Bonds issued under this chapter may be secured by:

(1)

solely a pledge of revenues, in the manner and to the extent prescribed for a county by Chapter 284 (Causeways, Bridges, Tunnels, Turnpikes, Ferries, and Highways in Certain Counties), Transportation Code;

(2)

a pledge of, and making the bonds payable from, an ad valorem tax authorized by Section 52(b), Article III, Texas Constitution;

(3)

designating a portion of the bonds to be secured solely by a pledge of revenues as provided by Subdivision (1) and a portion of the bonds to be secured by a pledge of an ad valorem tax as provided by Subdivision (2); or

(4)

a combination of the methods prescribed by Subdivisions (1) and (2) through which all of the bonds are to be supported and secured by a pledge of revenue and ad valorem tax, in the manner and to the extent prescribed for a county by Chapter 284 (Causeways, Bridges, Tunnels, Turnpikes, Ferries, and Highways in Certain Counties), Transportation Code.
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.04, eff. April 1, 2007.

Source: Section 5201.053 — Security for Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­5201.­htm#5201.­053 (accessed May 25, 2024).

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Accessed:
May 25, 2024

§ 5201.053’s source at texas​.gov