Texas § 1507.253 PLEDGE OF REVENUE; PAYMENT.

Texas Statutes

§ 1507.253 — PLEDGE OF REVENUE; PAYMENT.

Texas § 1507.253

Code GVGovernment Code

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Bluebook

Tex. Government Code Code Ann. § 1507.253 (2026).

Text

Sec. 1507.253. PLEDGE OF REVENUE; PAYMENT.

(a)A warrant or note issued under this subchapter is a lien on:

(1)the revenue of the municipality for the fiscal year during which the warrant or note is issued that is available for payment of the warrant or note; or

(2)a designated portion of that revenue.

(b)A municipality shall pay a warrant or note:

(1)consecutively according to its respective date and number as money for payment becomes available; or

(2)on a date during the fiscal year on which, in the estimate of the governing body, sufficient revenue will be available for payment of the warrant or note.

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Sec. 1507.253. PLEDGE OF REVENUE; PAYMENT. (a) A warrant or note issued under this subchapter is a lien on:
(1) the revenue of the municipality for the fiscal year during which the warrant or note is issued that is available for payment of the warrant or note; or
(2) a designated portion of that revenue.
(b) A municipality shall pay a warrant or note:
(1) consecutively according to its respective date and number as money for payment becomes available; or
(2) on a date during the fiscal year on which, in the estimate of the governing body, sufficient revenue will be available for payment of the warrant or note.