Texas Statutes
§ 1075.156 — AUTHORITY TO BORROW MONEY; SECURITY.
Texas § 1075.156
JurisdictionTexas
Code SDSpecial District Local Laws Code
This text of Texas § 1075.156 (AUTHORITY TO BORROW MONEY; SECURITY.) 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. Special District Local Laws Code Code Ann. § 1075.156 (2026).
Text
Sec. 1075.156. AUTHORITY TO BORROW MONEY; SECURITY.
(a)The board may borrow money from a federally insured lending institution or make other financial arrangements for district operating expenses or other authorized obligations.
(b)The board may borrow money in an amount and subject to a rate of interest and other terms the board finds appropriate.
(c)To secure a loan, the board may pledge:
(1)district revenue that is not pledged to pay the district's bonded indebtedness; or
(2)property acquired with borrowed money that is not pledged to pay the district's bonded indebtedness.
(d)A loan for which district revenue is pledged must mature not later than the fifth anniversary of the date the loan is made.
(e)The district must provide for the payment of all district debts and obligations
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Legislative History
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026 ), Sec. 1.01, eff. April 1, 2015.
Nearby Sections
15
§ 1075.001
DEFINITIONS.§ 1075.002
AUTHORITY FOR CREATION.§ 1075.003
ESSENTIAL PUBLIC FUNCTION.§ 1075.004
DISTRICT TERRITORY.§ 1075.051
BOARD ELECTION; TERM.§ 1075.052
NOTICE OF ELECTION.§ 1075.053
BALLOT PETITION.§ 1075.054
QUALIFICATIONS FOR OFFICE.§ 1075.055
BOND; RECORD OF BOND AND OATH.§ 1075.056
BOARD VACANCY.§ 1075.057
OFFICERS.§ 1075.058
COMPENSATION; EXPENSES.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 1075.156, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/SD/1075.156.