Sec. 1371.104. SOURCE OF REPAYMENT OF OBLIGATION. An obligation must be repaid from:
(1) a source of security for the payment of the obligation;
(2) money received from a credit agreement; or
(3) any other revenue legally available for the payment of the obligation.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle F - Specific Authority for State or Local Government to Issue Securities
Chapter 1371 - Obligations for Certain Public Improvements
Subchapter C. Financial Aspects of Obligation
Section 1371.101. Obligation as Negotiable Instrument and Investment Security
Section 1371.102. Use of Certain Proceeds
Section 1371.103. Security for Obligation
Section 1371.104. Source of Repayment of Obligation
Section 1371.105. Pledge or Lien on Resources, Assets, or Fund of Issuer
Section 1371.106. Pledge of or Lien on Sales or Use Tax Revenue