Texas § 45.104 PLEDGE OF DELINQUENT TAXES AS SECURITY FOR LOAN.

Texas Statutes

§ 45.104 — PLEDGE OF DELINQUENT TAXES AS SECURITY FOR LOAN.

Texas § 45.104

Code EDEducation Code

This text of Texas § 45.104 (PLEDGE OF DELINQUENT TAXES AS SECURITY FOR LOAN.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Education Code Code Ann. § 45.104 (2026).

Text

Sec. 45.104. PLEDGE OF DELINQUENT TAXES AS SECURITY FOR LOAN.

(a)The board of trustees of any school district may pledge its delinquent taxes levied for maintenance purposes for specific past, current, and future school years as security for a loan, and may evidence any such loan with negotiable notes, and the delinquent taxes pledged shall be applied against the principal and interest of the loan. Negotiable notes issued under this subsection must mature not more than 20 years from their date.

(b)A school district may not pledge delinquent taxes levied for school bonds as security for a loan.

(c)Funds secured through loans secured by delinquent taxes may be employed for any legal maintenance expenditure or purpose of the school district, including all costs incurred in connection with:

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Sec. 45.104. PLEDGE OF DELINQUENT TAXES AS SECURITY FOR LOAN. (a) The board of trustees of any school district may pledge its delinquent taxes levied for maintenance purposes for specific past, current, and future school years as security for a loan, and may evidence any such loan with negotiable notes, and the delinquent taxes pledged shall be applied against the principal and interest of the loan. Negotiable notes issued under this subsection must mature not more than 20 years from their date.
(b) A school district may not pledge delinquent taxes levied for school bonds as security for a loan.
(c) Funds secured through loans secured by delinquent taxes may be employed for any legal maintenance expenditure or purpose of the school district, including all costs incurred in connection with:
(1) environmental cleanup and asbestos removal programs implemented by school districts; or
(2) maintenance, repair, rehabilitation, or replacement of heating, air conditioning, water, sanitation, roofing, flooring, electric, or other building systems of existing school properties.
(d) A loan secured by delinquent taxes may bear interest at a rate not to exceed the maximum rate provided by Section 1204.006 , Government Code.

Legislative History

Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995. Amended by Acts 1999, 76th Leg., ch. 396, Sec. 1.34, eff. Sept. 1, 1999; Acts 2001, 77th Leg., ch. 1420, Sec. 8.212, eff. Sept. 1, 2001.