Texas § 8501.252 OBLIGATION PAYABLE FROM REVENUE.

Texas Statutes

§ 8501.252 — OBLIGATION PAYABLE FROM REVENUE.

Texas § 8501.252

Code SDSpecial District Local Laws Code

This text of Texas § 8501.252 (OBLIGATION PAYABLE FROM REVENUE.) 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. § 8501.252 (2026).

Text

Sec. 8501.252. OBLIGATION PAYABLE FROM REVENUE.

(a)An obligation issued under this chapter by the authority may be made payable from and secured by a pledge of:

(1)all the revenue derived from the operations and devices of the authority's improvements and facilities, excluding any revenue derived from a tax or assessment;

(2)only the revenue derived from the operation of the authority's improvements and facilities acquired with the proceeds from the sale of the obligation; or

(3)a specific part of the revenue derived from the operation of the authority's improvements and facilities.

(b)The proceedings authorizing the issuance of the obligation must identify the method described by Subsection (a) that is to be used to pay and secure the obligation.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 8501.252. OBLIGATION PAYABLE FROM REVENUE. (a) An obligation issued under this chapter by the authority may be made payable from and secured by a pledge of:
(1) all the revenue derived from the operations and devices of the authority's improvements and facilities, excluding any revenue derived from a tax or assessment;
(2) only the revenue derived from the operation of the authority's improvements and facilities acquired with the proceeds from the sale of the obligation; or
(3) a specific part of the revenue derived from the operation of the authority's improvements and facilities.
(b) The proceedings authorizing the issuance of the obligation must identify the method described by Subsection (a) that is to be used to pay and secure the obligation.