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(a) Bonds issued under this subchapter may be secured under board resolution by a pledge of:
(1) all or part of the net revenue of the district;
(2) the net revenue of one or more contracts made before or after the issuance of the bonds; or
(3) other revenue or income specified by resolution of the board or in the trust indenture.
(b) The pledge may reserve the right to issue additional bonds on a parity with, or subordinate to, the bond being issued, subject to conditions specified in the pledge.
(c) Bonds not payable wholly or partly from ad valorem taxes may be issued without an election.
Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 8183.255. Bonds Payable from Revenue - last updated April 14, 2021 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-8183-255/
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