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Texas Special District Local Laws Code - SDLL § 8504.301. General Power to Borrow Money

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

(a) The authority may:

(1) borrow money for any corporate purpose from any source; and

(2) issue a note, warrant, bond, certificate of indebtedness, or other form of obligation of the authority as evidence of the borrowed money.

(b) An obligation of the authority under Subsection (a) is payable only from revenue derived from authority improvements and facilities and the operation and services of the improvements and facilities. (Acts 43rd Leg., 1st C.S., Ch. 63, Sec. 16.)

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Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 8504.301. General Power to Borrow Money - last updated January 01, 2024 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-8504-301/

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