Sec. 1471.012. EMERGENCY NOTES. (a) If money is not available, a political subdivision may:
(1) declare an emergency to:
(A) pay the principal of and interest on bonds issued under this chapter any part of which is payable from taxes; or
(B) meet any other need of the political subdivision; and
(2) issue tax or bond anticipation notes to borrow the money needed.
(b) Notes issued under this section must mature not later than one year after their date.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle I - Specific Authority for Counties to Issue Securities
Chapter 1471 - Bonds for County Roads
Subchapter B. Issuance of Bonds
Section 1471.011. Authority to Issue Road Bonds
Section 1471.012. Emergency Notes
Section 1471.013. Tax Anticipation Notes
Section 1471.014. Bond Anticipation Notes
Section 1471.015. Election on Issuance of Bonds: County
Section 1471.016. Petition for Election on Issuance of Bonds: Precinct or Road District
Section 1471.017. Hearing on and Determination of Petition: Precinct or Road District
Section 1471.018. Notice of Election
Section 1471.019. Results of Election
Section 1471.020. Effect of Lack of Notice
Section 1471.022. Designation of Bonds
Section 1471.023. Disposition of Bond Proceeds
Section 1471.024. Duties of County Treasurer
Section 1471.025. Disbursement of Bond Proceeds by County Treasurer
Section 1471.026. Investment of Sinking Funds
Section 1471.027. Use of Bond Proceeds Outside Road District
Section 1471.028. Use of Surplus Sinking Fund
Section 1471.029. Election for Repurchase and Cancellation of Bonds