Sec. 3966.0502. BONDS SECURED BY REVENUE OR CONTRACT PAYMENTS. The district may issue, without an election, bonds secured by:
(1) revenue, including contract revenues; or
(2) contract payments, provided that the requirements of Section 49.108, Water Code, have been met.
Added by Acts 2019, 86th Leg., R.S., Ch. 562 (S.B. 2445), Sec. 1, eff. June 10, 2019.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3966 - New Park Municipal Management District
Section 3966.0501. Authority to Borrow Money and to Issue Bonds and Other Obligations
Section 3966.0502. Bonds Secured by Revenue or Contract Payments
Section 3966.0503. Bonds and Other Obligations for Improvement Under Agreement