Sec. 51.455. ISSUANCE OF REVENUE BONDS TO CONSTRUCT EXTENSIONS AND IMPROVEMENTS TO CERTAIN SYSTEMS. (a) A district which has adopted a plan for improvements designed to furnish a water and sewer system may also issue its revenue bonds as provided in Section 51.450(b)(2) of this code to construct extensions and improvements to the water and sewer system or to an irrigation system.
(b) The district may pay the revenue bonds by entering into contracts to pledge the net revenue derived from the sale of water for irrigation purposes and service charges obtained from the sale and distribution of water for irrigation purposes.
(c) The bonds may be issued in one or more issues under the terms and conditions considered by the board to be advisable.
Acts 1971, 62nd Leg., p. 349, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 51 - Water Control and Improvement Districts
Subchapter K. Issuance of Bonds
Section 51.403. Amount of Debt Limited by Constitution
Section 51.404. Issuance of Preliminary Bonds
Section 51.405. Election on Preliminary Bonds
Section 51.406. Conditions of Preliminary Bonds
Section 51.407. Tax to Pay Preliminary Bonds
Section 51.408. Issuance of Bonds
Section 51.410. Engineer's Report
Section 51.411. Election Order
Section 51.414. Vote at Election
Section 51.415. Order to Issue Bonds or Execute Contract
Section 51.419. Conditions of Bonds
Section 51.423. Validation Suit
Section 51.424. Effect of Prior Registration
Section 51.425. Procedure in Validation Suit
Section 51.426. Notice of Validation Suit
Section 51.427. Duties of Attorney General in Validation Suit
Section 51.428. Judgment in Validation Suit
Section 51.429. Effect of Validation Suit
Section 51.430. Certified Copy of Decree
Section 51.431. Registration of Bonds and Decree
Section 51.436. Interest and Sinking Fund
Section 51.437. Investment of Sinking Fund
Section 51.438. Refunding Bonds
Section 51.439. Limitation of Authority to Incur Debt and Issue Bonds
Section 51.440. Issuing Bonds in Excess of Limitation
Section 51.441. Modifications of Improvements
Section 51.444. Limitations on Interim Bonds
Section 51.445. Issuance of Bonds and Levy of Tax
Section 51.446. Deposit of Bonds to Secure Interim Bonds
Section 51.447. Procedure for Issuance and Sale of Interim Bonds
Section 51.448. Payment of Interim Bonds
Section 51.449. Redemption of Interim Bonds
Section 51.450. Alternate Methods for Paying Bonds
Section 51.451. Taxes to Secure Certain Bonds
Section 51.453. Hearing and Election on Certain Bonds