Texas § 11007.204 BONDS SECURED BY REVENUE; ADDITIONAL BONDS.

Texas Statutes

§ 11007.204 — BONDS SECURED BY REVENUE; ADDITIONAL BONDS.

Texas § 11007.204

Code SDSpecial District Local Laws Code

This text of Texas § 11007.204 (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. § 11007.204 (2026).

Text

Sec. 11007.204. BONDS SECURED BY REVENUE; ADDITIONAL BONDS.

(a)District bonds may be secured by a pledge of all or part of the district's revenue, or by all or part of the payments or rentals under one or more contracts or leases specified by board resolution or a trust indenture securing the bonds.

(b)A resolution authorizing the issuance of bonds secured by a pledge of revenue of all or part of the district's facilities may provide that the district shall first pay the expenses of operating and maintaining all or part of the facilities as the board considers appropriate before paying the principal of and interest on the bonds.

(c)In a resolution authorizing the issuance of bonds secured by revenue, contract payments, or lease rentals, the district may reserve the right, under conditio

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Sec. 11007.204. BONDS SECURED BY REVENUE; ADDITIONAL BONDS. (a) District bonds may be secured by a pledge of all or part of the district's revenue, or by all or part of the payments or rentals under one or more contracts or leases specified by board resolution or a trust indenture securing the bonds.
(b) A resolution authorizing the issuance of bonds secured by a pledge of revenue of all or part of the district's facilities may provide that the district shall first pay the expenses of operating and maintaining all or part of the facilities as the board considers appropriate before paying the principal of and interest on the bonds.
(c) In a resolution authorizing the issuance of bonds secured by revenue, contract payments, or lease rentals, the district may reserve the right, under conditions specified by the resolution, to issue additional bonds that will be on a parity with, superior to, or subordinate to the bonds then being issued.