Texas § 60.338 BONDS SECURED BY REVENUES.

Texas Statutes

§ 60.338 — BONDS SECURED BY REVENUES.

Texas § 60.338

Code WAWater Code

This text of Texas § 60.338 (BONDS SECURED BY REVENUES.) 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. § 60.338 (2026).

Text

Sec. 60.338. BONDS SECURED BY REVENUES.

(a)Bonds secured wholly or in part by a pledge of the revenues of the district may be secured by all or that part of the revenues specified in the resolution authorizing the bonds or in the indenture securing the bonds.

(b)In making any pledge of the revenues, the right under the conditions specified to issue additional bonds which will be on a parity with, senior to, or subordinate to the bonds then being issued, may be expressly reserved.

(c)Within the discretion of the governing body, bonds may be secured further by a lien on all or any part of the physical property of the district.

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Sec. 60.338. BONDS SECURED BY REVENUES. (a) Bonds secured wholly or in part by a pledge of the revenues of the district may be secured by all or that part of the revenues specified in the resolution authorizing the bonds or in the indenture securing the bonds.
(b) In making any pledge of the revenues, the right under the conditions specified to issue additional bonds which will be on a parity with, senior to, or subordinate to the bonds then being issued, may be expressly reserved.
(c) Within the discretion of the governing body, bonds may be secured further by a lien on all or any part of the physical property of the district.