Text of section effective on April 01, 2021

Sec. 5012.0201. AUTHORITY TO ISSUE BONDS; ELECTION. (a) The authority may issue bonds for any corporate purpose.

(b) The authority may issue bonds for a purpose described by Section 5012.0102(1) or to acquire necessary or proper lands, rights of way, extension or improvements of belt railway lines, or construction or improvements of wharves, docks, ship repair facilities, or other facilities or aids to navigation.

(c) The authority may secure bonds issued under Subsection (b) by liens on properties acquired, constructed, or improved and pledge available revenues as additional security.

(d) An election to approve the issuance of bonds payable from taxes must be held in the manner provided for bond elections under Chapter 54, Water Code.

Added by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.01, eff. April 1, 2021.