Texas § 9092.0505 BONDS PAYABLE FROM REVENUE.

Texas Statutes

§ 9092.0505 — BONDS PAYABLE FROM REVENUE.

Texas § 9092.0505

Code SDSpecial District Local Laws Code

This text of Texas § 9092.0505 (BONDS 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. § 9092.0505 (2026).

Text

Text of section effective on April 01, 2027 Sec. 9092.0505. BONDS PAYABLE FROM REVENUE.

(a)In this section, "net revenue" means the district's gross revenue less the amount necessary to pay the reasonable cost of maintaining and operating the district and the district's property.

(b)The board may issue bonds payable, as pledged by board resolution, from:

(1)all or part of the district's net revenue;

(2)the net revenue of one or more contracts made before or after the issuance of the bonds; or

(3)other revenue or income specified by board resolution or in the trust indenture.

(c)The pledge may reserve the right to issue additional bonds on a parity with, or subordinate to, the bonds being issued, subject to conditions specified by the pledge.

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Text of section effective on April 01, 2027
Sec. 9092.0505. BONDS PAYABLE FROM REVENUE. (a) In this section, "net revenue" means the district's gross revenue less the amount necessary to pay the reasonable cost of maintaining and operating the district and the district's property.
(b) The board may issue bonds payable, as pledged by board resolution, from:
(1) all or part of the district's net revenue;
(2) the net revenue of one or more contracts made before or after the issuance of the bonds; or
(3) other revenue or income specified by board resolution or in the trust indenture.
(c) The pledge may reserve the right to issue additional bonds on a parity with, or subordinate to, the bonds being issued, subject to conditions specified by the pledge.