Tex. Special District Local Laws Code § 1045.161
This is the official text of Tex. Special District Local Laws Code § 1045.161, part of Texas’s Special District Local Laws Code — consolidates the individual laws creating Texas's special-purpose local government districts.
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§ 1045.161. AUTHORITY TO BORROW MONEY; SECURITY.
Official statutory text
(a) The board may borrow money for district operating expenses in an amount not to exceed the amount of tax or other revenue the district expects to receive during the fiscal year in which the money is borrowed.
(b) To repay the debt, the board may pledge all or part of the tax or other revenue received during the fiscal year in which the board borrows money under this section.
(b) To repay the debt, the board may pledge all or part of the tax or other revenue received during the fiscal year in which the board borrows money under this section.
Status: in_force · Read it on the official government site
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