Tex. Water Code § 51.797
This is the official text of Tex. Water Code § 51.797, part of Texas’s Water Code — governs water rights and water resource management.
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§ 51.797. MAXIMUM AMOUNT, INTEREST RATE, AND MATURITY OF BONDS.
Official statutory text
The maximum amount of bonds to be voted on and issued shall not be more than the total amount of the approved valid, enforceable indebtedness and the estimate of expenses, exclusive of the estimated cost of collection of taxes. The maximum amount of bonds, exclusive of interest and expenses of collection, to be issued for fees and expenses of dissolution of the district shall not be more than an amount equal to $2 times the number of acres in the district. The bonds shall mature serially over a period of not more than seven years.
Status: in_force · Read it on the official government site
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