Sec. 5018.0154. AUTHORITY TO BORROW MONEY FOR CURRENT EXPENSES; EVIDENCE OF OBLIGATION. (a) The district may:
(1) borrow money for current expenses; and
(2) evidence the borrowed money by warrants payable not later than the close of the calendar year for which the loan is made.
(b) The 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 5018 - Orange County Navigation and Port District of Orange County, Texas
Subchapter D. General Financial Provisions
Section 5018.0152. Accounts, Contracts, and Other Records; Public Inspection
Section 5018.0153. Authority to Borrow Money, Accept Grants, and Issue Associated Bonds
Section 5018.0154. Authority to Borrow Money for Current Expenses; Evidence of Obligation
Section 5018.0155. Ad Valorem Tax for Maintenance and Operations; Election Procedure
Section 5018.0156. Imposition of Taxes; Tax Certification; Tax Assessor-Collector