Sec. 6904.255. 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 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 then being issued.
(b) The district may issue bonds secured by both taxes and revenue of the district described by Subsection (a).
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 6904 - Aquilla Water Supply District
Section 6904.251. Authority to Issue Bonds
Section 6904.252. Form of Bonds
Section 6904.254. Election for Bonds Payable From Ad Valorem Taxes
Section 6904.255. Bonds Secured by Revenue; Additional Bonds
Section 6904.256. Bonds Payable From Ad Valorem Taxes
Section 6904.257. Additional Security
Section 6904.258. Trust Indenture
Section 6904.259. Charges for District Services
Section 6904.260. Use of Bond Proceeds
Section 6904.261. Appointment of Receiver
Section 6904.262. Refunding Bonds
Section 6904.263. Limitation on Rights of Holders
Section 6904.264. Bonds Exempt From Taxation
Section 6904.265. Detachment of District Territory After Issuance of Bonds