Sec. 11005.255. BONDS SECURED BY REVENUE; ADDITIONAL BONDS. (a) District bonds issued may be secured by a pledge of all or part of the district's revenue, or by all or part of the revenue of one or more contracts previously or subsequently made or other revenue or income specified by board resolution or a trust indenture securing the bonds. The pledge may reserve the right, under conditions specified by the pledge, to issue additional bonds that will be on a parity with or subordinate to the bonds then being issued.
(b) The district may issue bonds secured by both taxes and revenue of the district described by Subsection (a).
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.07, eff. April 1, 2017.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle X - Districts With Combined Powers
Chapter 11005 - Muenster Water District
Section 11005.251. Authority to Issue Bonds
Section 11005.252. Form of Bonds
Section 11005.254. Election for Bonds Payable From Ad Valorem Taxes
Section 11005.255. Bonds Secured by Revenue; Additional Bonds
Section 11005.256. Bonds Payable From Ad Valorem Taxes
Section 11005.257. Additional Security
Section 11005.258. Trust Indenture
Section 11005.259. Rates for Services; Payment of Revenue Bonds
Section 11005.260. Use of Bond Proceeds
Section 11005.261. Appointment of Receiver
Section 11005.262. Refunding Bonds