Sec. 363.145. BOND ANTICIPATION NOTES. (a) A public agency may declare an emergency if funds are not available to pay the principal of or interest on the public agency's bonds issued under this chapter.
(b) The public agency may issue negotiable bond anticipation notes to borrow the money needed in an emergency, and the bond anticipation notes may bear interest at any rate authorized by state law and shall mature within one year of the date of issuance.
(c) The bond anticipation notes may be paid with the proceeds of bonds, or bonds may be issued and delivered in exchange for and in substitution of bond anticipation notes.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Structure Texas Statutes
Title 5 - Sanitation and Environmental Quality
Subtitle B - Solid Waste, Toxic Chemicals, Sewage, Litter, and Water
Chapter 363 - Municipal Solid Waste
Section 363.131. Authority to Issue Bonds
Section 363.133. Bond Provisions
Section 363.134. Approval and Registration
Section 363.135. Bond Payment and Security
Section 363.136. Bond Election
Section 363.137. Other Security
Section 363.138. Bond Sale and Exchange
Section 363.139. Investment and Use of Proceeds
Section 363.140. Refunding Bonds
Section 363.141. Legal Investments; Security for Deposits
Section 363.142. Tax Status of Bonds
Section 363.143. Fees for Services