Text of section effective on April 01, 2021

Sec. 5018.0154. AUTHORITY TO BORROW MONEY FOR CURRENT EXPENSES; EVIDENCE OF OBLIGATION. (a) The district may:

(1) borrow money for current expenses; and

(2) evidence the borrowed money by warrants payable not later than the close of the calendar year for which the loan is made.

(b) The amount of the warrants may not exceed the anticipated revenue.

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