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Texas Local Government Code

§ 111.0708 — PLEDGING REVENUE AS SECURITY FOR BONDS AND OTHER OBLIGATIONS

LG § 111.0708Title 4. FINANCES · Part B. COUNTY FINANCES · Ch. 111. COUNTY BUDGET · Art. C. ALTERNATE METHOD OF BUDGET PREPARATION IN COUNTIES WITH POPULATION OF MORE THAN 125,000

Statute text

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In preparing a county budget, a county may secure county bonds or other obligations by pledging for the term of the bonds or other obligations:
(1)any security authorized by law; or
(2)any revenue or receipts obtained by the county from the levy of a state tax if the state is required to pay the county the proceeds or receipts from the tax.

Legislative history

Added by Acts 1997, 75th Leg., ch. 1197, Sec. 8, eff. June 20, 1997.

Source: Texas Local Government Code § 111.0708 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.