Sec. 1431.005. GENERAL LIMITATION. An issuer may not use proceeds of an anticipation note to repay interfund or other borrowing that occurred earlier than 24 months before the date of the ordinance or order authorizing the issuance of the note.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities
Chapter 1431 - Anticipation Notes
Section 1431.002. Authority to Issue Anticipation Notes
Section 1431.003. Additional Authority of Counties and Certain Municipalities
Section 1431.004. Uses of Anticipation Note Proceeds
Section 1431.005. General Limitation
Section 1431.006. Limitation on Notes to Pay Expenses
Section 1431.007. General Sources of Payment
Section 1431.008. Ad Valorem Taxes as Source of Payment
Section 1431.010. Sale of Notes
Section 1431.011. Attorney General Approval of Certain Notes
Section 1431.012. Restriction on Certain Contracts Payable From Proceeds of Notes
Section 1431.013. Conflict With Other Laws
Section 1431.014. Certain Notes for Rural Economic Development
Section 1431.015. Certain Notes or Other Obligations for Emergency Financing