Text of section effective on April 01, 2021
Sec. 8508.0253. POWER TO ISSUE BONDS OR OTHER OBLIGATIONS. (a) For the purpose of carrying out any power provided by this chapter, including the payment of the expenses of preparing the master plan and the payment of engineering and other expenses, the authority may issue bonds or other obligations in one general class secured by a pledge of all or part of the revenue accruing to the authority from any source, including the revenue received from:
(1) the sale of water or other products;
(2) the rendition of services;
(3) tolls; and
(4) charges.
(b) The obligations must be authorized by a board resolution.
Added by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.03, eff. April 1, 2021.
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