Texas § 60.106 PLEDGE OF REVENUE FOR PAYMENT OF OBLIGATIONS.

Texas Statutes

§ 60.106 — PLEDGE OF REVENUE FOR PAYMENT OF OBLIGATIONS.

Texas § 60.106

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This text of Texas § 60.106 (PLEDGE OF REVENUE FOR PAYMENT OF OBLIGATIONS.) 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. Water Code Code Ann. § 60.106 (2026).

Text

Sec. 60.106. PLEDGE OF REVENUE FOR PAYMENT OF OBLIGATIONS.

(a)In proceedings to authorize the issuance of obligations under this subchapter, the district may make the obligations payable from and secured by the pledge of all or part of the revenue derived from the ownership or operation of the land, improvements, facilities, or other properties of the district, exclusive of revenue derived from taxation or assessments, or payable from and secured by the pledge of only revenue which may be derived from the ownership or operation of the land, improvements, facilities, or properties acquired with the proceeds of the sale of the obligations.

(b)The obligations may be issued in more than one series and at any time at which they may be required for carrying out the purposes of the district. (c

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Sec. 60.106. PLEDGE OF REVENUE FOR PAYMENT OF OBLIGATIONS. (a) In proceedings to authorize the issuance of obligations under this subchapter, the district may make the obligations payable from and secured by the pledge of all or part of the revenue derived from the ownership or operation of the land, improvements, facilities, or other properties of the district, exclusive of revenue derived from taxation or assessments, or payable from and secured by the pledge of only revenue which may be derived from the ownership or operation of the land, improvements, facilities, or properties acquired with the proceeds of the sale of the obligations.
(b) The obligations may be issued in more than one series and at any time at which they may be required for carrying out the purposes of the district.
(c) Any pledge of revenue may reserve the right under conditions, specified in the pledge, to issue additional obligations which will be on a parity with, senior to, or subordinate to the obligations then being issued.