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Texas Government Code - GOV'T § 1507.253. Pledge of Revenue;  Payment

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A warrant or note issued under this subchapter is a lien on:

(1) the revenue of the municipality for the fiscal year during which the warrant or note is issued that is available for payment of the warrant or note;  or

(2) a designated portion of that revenue.

(b) A municipality shall pay a warrant or note:

(1) consecutively according to its respective date and number as money for payment becomes available;  or

(2) on a date during the fiscal year on which, in the estimate of the governing body, sufficient revenue will be available for payment of the warrant or note.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1507.253. Pledge of Revenue;  Payment - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1507-253/

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