Sec. 3983.0502. 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. 475 (H.B. 4733), Sec. 1, eff. June 7, 2019.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3983 - Oak Farms Municipal Management District
Section 3983.0501. Authority to Borrow Money and to Issue Bonds and Other Obligations
Section 3983.0502. Bonds Secured by Revenue or Contract Payments
Section 3983.0503. Bonds and Other Obligations for Improvement Under Agreement