Texas § 11005.255 BONDS SECURED BY REVENUE; ADDITIONAL BONDS.

Texas Statutes

§ 11005.255 — BONDS SECURED BY REVENUE; ADDITIONAL BONDS.

Texas § 11005.255

Code SDSpecial District Local Laws Code

This text of Texas § 11005.255 (BONDS SECURED BY REVENUE; ADDITIONAL BONDS.) 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.

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Tex. Special District Local Laws Code Code Ann. § 11005.255 (2026).

Text

Sec. 11005.255. BONDS SECURED BY REVENUE; ADDITIONAL BONDS.

(a)District bonds issued 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 previously or subsequently made 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).

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Sec. 11005.255. BONDS SECURED BY REVENUE; ADDITIONAL BONDS. (a) District bonds issued 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 previously or subsequently made 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).