Texas § 383.026 PLEDGE OF OTHER UTILITY REVENUE; ELECTION.

Texas Statutes

§ 383.026 — PLEDGE OF OTHER UTILITY REVENUE; ELECTION.

Texas § 383.026

Code HSHealth and Safety Code

This text of Texas § 383.026 (PLEDGE OF OTHER UTILITY REVENUE; ELECTION.) 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. Health and Safety Code Code Ann. § 383.026 (2026).

Text

Sec. 383.026. PLEDGE OF OTHER UTILITY REVENUE; ELECTION.

(a)In addition to the security under Section 383.025 , a municipality's or county's bonds may be secured, as specified by the resolution or a security agreement, by a pledge of other utility revenue of the municipality or county.

(b)Before issuing bonds secured by other utility revenue, the governing body must order an election to determine whether the bonds may be issued. The governing body shall set the date of the election in accordance with Section 41.001 , Election Code. The manner of holding the election is governed by Chapter 1251 , Government Code. If the majority of voters who vote at the election approve the issuance of the bonds, the governing body may issue the bonds.

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Sec. 383.026. PLEDGE OF OTHER UTILITY REVENUE; ELECTION. (a) In addition to the security under Section 383.025 , a municipality's or county's bonds may be secured, as specified by the resolution or a security agreement, by a pledge of other utility revenue of the municipality or county.
(b) Before issuing bonds secured by other utility revenue, the governing body must order an election to determine whether the bonds may be issued. The governing body shall set the date of the election in accordance with Section 41.001 , Election Code. The manner of holding the election is governed by Chapter 1251 , Government Code. If the majority of voters who vote at the election approve the issuance of the bonds, the governing body may issue the bonds.