Sec. 60.179. BORROWING FOR CURRENT EXPENSES. The district may borrow funds and issue warrants to pay current expenses. The warrants issued shall be payable not later than the close of any calendar year for which loans are made and may not exceed in total the anticipated revenue of the district.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 60 - Navigation Districts--General Provisions
Subchapter G. Powers of District to Provide Improvements Without Taxation
Section 60.171. Authority to Borrow Money and Encumber Property and Franchise
Section 60.172. Notice of Hearing on Indebtedness
Section 60.173. Hearing on Indebtedness
Section 60.174. Issuance of Obligations
Section 60.175. Execution and Sale of Obligations
Section 60.176. Obligations as Charge on Encumbered Property and Facilities
Section 60.177. Lien on Revenue; Foreclosure of Encumbrance
Section 60.178. Trustee to Enforce Foreclosure; Franchise Under Foreclosure
Section 60.179. Borrowing for Current Expenses