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Texas Special District Local Laws Code - SDLL § 1046.161. Authority to Borrow Money; Security

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

(a) The district may incur a debt or borrow money on the credit of the district or secured by any source of revenue, including district taxes to be imposed in the next 12-month period, that is not pledged to pay the principal of or interest on district bonds.

(b) The district may incur a debt or borrow money in any amount at a rate not to exceed the maximum annual percentage rate allowed by law for district obligations at the time the loan is made and on other terms the district considers advisable.

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Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 1046.161. Authority to Borrow Money; Security - last updated January 01, 2024 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-1046-161/

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