Sec. 5012.0154. AUTHORITY TO BORROW MONEY FOR CURRENT EXPENSES; EVIDENCE OF OBLIGATION. (a) The authority may:
(1) borrow money for current expenses; and
(2) evidence the borrowed money by warrants.
(b) The total amount of the warrants may not exceed the anticipated revenue.
Added by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.01, eff. April 1, 2021.
Structure Texas Statutes
Special District Local Laws Code
Subtitle A - Navigation Districts and Port Authorities
Chapter 5012 - Sabine Pass Port Authority
Subchapter D. General Financial Provisions
Section 5012.0151. Maintenance and Operations Tax
Section 5012.0152. Tax Assessor and Collector
Section 5012.0153. Authority to Borrow Money, Accept Grants, and Issue Associated Revenue Bonds
Section 5012.0154. Authority to Borrow Money for Current Expenses; Evidence of Obligation