Texas § 163.067 NONNEGOTIABLE PURCHASE MONEY NOTES.

Texas Statutes

§ 163.067 — NONNEGOTIABLE PURCHASE MONEY NOTES.

Texas § 163.067

Code UTUtilities Code

This text of Texas § 163.067 (NONNEGOTIABLE PURCHASE MONEY NOTES.) 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. Utilities Code Code Ann. § 163.067 (2026).

Text

Sec. 163.067. NONNEGOTIABLE PURCHASE MONEY NOTES.

(a)The agency may issue nonnegotiable purchase money notes to acquire land or fuel resources.

(b)Nonnegotiable purchase money notes are:

(1)payable in installments;

(2)secured by the property acquired with the notes or other collateral the agency substitutes; and

(3)not a security or agency obligation.

(c)Nonnegotiable purchase money notes may be further secured by a promise to issue bonds or bond anticipation notes to pay the purchase money notes.

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

Sec. 163.067. NONNEGOTIABLE PURCHASE MONEY NOTES. (a) The agency may issue nonnegotiable purchase money notes to acquire land or fuel resources.
(b) Nonnegotiable purchase money notes are:
(1) payable in installments;
(2) secured by the property acquired with the notes or other collateral the agency substitutes; and
(3) not a security or agency obligation.
(c) Nonnegotiable purchase money notes may be further secured by a promise to issue bonds or bond anticipation notes to pay the purchase money notes.