Texas Agriculture Code - AGRIC § 60.103. Bonds

(1) mature not later than 40 years after its date of issuance;  and

(2) state on its face that the bond is not an obligation of the state.

(1) any source of money, including district revenue, loans, or assessments;  or

(2) a lien, pledge, mortgage, or other security interest on district revenue or property.

(1) into a reserve fund for debt service;

(2) for the acquisition, design, construction, repair, maintenance, or replacement of property, including buildings and equipment;

(3) administrative and operating expenses;

(4) all expenses incurred or that will be incurred in the issuance, sale, and delivery of the bonds;

(5) the principal of and interest on bonds;  or

(6) for the operation of an agricultural enterprise.