Sec. 61.170. AUTHORITY TO INCUR DEBT. (a) The district may issue bonds for the purposes stated in Section 61.151 of this code and for the purpose of
(1) acquiring necessary land, rights-of-way, or dumping grounds;
(2) extension or improvement of belt railway lines; or
(3) construction of improvements, wharves, docks, or other facilities or aids to navigation.
(b) The obligations may be secured by liens on the property acquired, constructed, or improved. Available revenue may be pledged as additional security.
(c) The district may borrow funds for current expenses and may evidence the debt by warrants payable not later than the close of any calendar year for which the loans are made. The warrants shall never exceed the anticipated revenue.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 61 - Article Iii, Section 52, Navigation Districts
Section 61.151. Authority to Operate and Develop Port Facilities
Section 61.153. Hearing: Testimony
Section 61.154. Election Order
Section 61.156. Election Expense
Section 61.157. Declaration of Results
Section 61.158. Appointment of Commissioners
Section 61.159. Term of Office: Removal: Succession
Section 61.160. Qualifications; Compensation; Authority
Section 61.161. Eminent Domain
Section 61.162. Lease and Rental of Facilities
Section 61.163. Unimproved Land
Section 61.165. Franchise Election
Section 61.167. Election Result
Section 61.168. Petition Protesting Franchise
Section 61.170. Authority to Incur Debt
Section 61.172. Financing Purchases
Section 61.173. Election on the Purchase of Facilities
Section 61.174. Employees; County Auditor, Duties and Compensation