§ 11020.0501 — REVENUE BONDS, NOTES, AND OTHER OBLIGATIONS.

Texas § 11020.0501

• Jurisdiction: Texas
• Code SD: Special District Local Laws Code

Text

Sec. 11020.0501. REVENUE BONDS, NOTES, AND OTHER OBLIGATIONS. (a) In addition to bonds, notes, and other obligations that the alliance is authorized to issue under other law, to accomplish the purposes of the alliance, the alliance may issue bonds, notes, or other obligations payable solely from and secured by all or part of any funds or any revenue from any source or sources, including:
(1) fees, rates, and other charges the alliance imposes or collects;
(2) the sale of:
(A) water;
(B) water or wastewater services;
(C) water rights or capacity;
(D) water transmission rights, capacity, or services;
(E) water pumping;
(F) wastewater reused directly or indirectly;
(G) aquifer storage and recovery services;
(H) sewer services; or
(I) any other service or product of the alliance provided inside or outside the boundaries of the alliance;
(3) grants or gifts;
(4) the ownership or operation of all or a designated part of the alliance's works, improvements, facilities, plants, or equipment; and
(5) the proceeds of contracts.
(b) Bonds, notes, or other obligations issued by the alliance may be first or subordinate lien obligations at the board's discretion.
(c) In connection with any bonds, notes, or other obligations of the alliance, the alliance may exercise any power of an issuer under Chapter 1371 , Government Code.
(d) The alliance may conduct a public, private, or negotiated sale of the bonds, notes, or other obligations.
(e) The alliance may enter into one or more indentures of trust to further secure its bonds, notes, or other obligations.
(f) The alliance may issue bonds, notes, or other obligations in more than one series as necessary to carry out the purposes of this chapter. In issuing bonds, notes, or other obligations secured by revenue of the alliance, the alliance may reserve the right to issue additional bonds, notes, or other obligations secured by the alliance's revenue that are on parity with or are senior or subordinate to the bonds, notes, or other obligations issued earlier.
(g) A resolution of the board or a trust indenture securing the bonds, notes, or other obligations may specify additional provisions that constitute a contract between the alliance and the alliance's bondholders, noteholders, or other obligation holders.
(h) Bonds, notes, or other obligations may be additionally secured by deed of trust or mortgage on any or all of the alliance's facilities.
(i) The authority provided by this chapter for the authorization and issuance of bonds, notes, and other obligations is in addition to, and not in lieu of, the authority otherwise established under general law and may not be construed as a limitation on, or a modification of, general law providing for authorization and issuance of bonds, notes, and other forms of obligations. Nothing in this chapter may be construed as affecting any existing contract, bond, note, or other obligation of the alliance or any indenture, covenant, mortgage, or other agreement relating to them.

Legislative History

Added by Acts 2025, 89th Leg., R.S., Ch. 29 (S.B. 1194 ), Sec. 1, eff. May 15, 2025.