Sec. 6902.205. BONDS SECURED BY REVENUE; ADDITIONAL BONDS. (a) Bonds issued under this subchapter may be secured by a pledge of all or part of the district's revenue, or by all or part of the revenue of one or more district contracts or other revenue or income specified by board resolution or a trust indenture securing the bonds. The pledge may reserve the right, under conditions specified by the pledge, to issue additional bonds that will be on a parity with or subordinate to the bonds being issued.
(b) The district may issue bonds secured by both property taxes and revenue of the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.06, eff. April 1, 2009.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle B - Fresh Water Supply Districts
Chapter 6902 - Crane County Water District
Subchapter E. General Bond Provisions
Section 6902.201. Authority to Issue Bonds
Section 6902.202. Form of Bonds
Section 6902.204. Election for Bonds Payable From Property Taxes
Section 6902.205. Bonds Secured by Revenue; Additional Bonds
Section 6902.206. Bonds Payable From Property Taxes
Section 6902.207. Additional Security
Section 6902.208. Trust Indenture
Section 6902.209. Charges for District Services
Section 6902.210. Use of Bond Proceeds
Section 6902.211. Appointment of Receiver
Section 6902.212. Limitation on Rights of Holders
Section 6902.213. Bonds Exempt From Taxation
Section 6902.214. Exclusion of Territory After Issuance of Bonds