Texas Water Code
§ 15.475 — ISSUANCE OF REVENUE BONDS
WA § 15.475Title 2. WATER ADMINISTRATION · Part C. WATER DEVELOPMENT · Ch. 15. TEXAS WATER ASSISTANCE PROGRAM · Art. H. STATE WATER IMPLEMENTATION REVENUE FUND FOR TEXAS
Statute text
View on source(a)The board may issue revenue bonds for the purpose of providing money for the fund.
(b)The board may issue revenue bonds to refund revenue bonds or bonds and obligations issued or incurred in accordance with other provisions of law.
(c)Revenue bonds issued under this subchapter are special obligations of the board payable only from and secured by designated income and receipts of the fund, or of one or more accounts in the fund, including principal of and interest paid and to be paid on fund assets or income from accounts created within the fund by the board, as determined by the board.
(d)Revenue bonds issued under this subchapter do not constitute indebtedness of the state as prohibited by the constitution.
(e)The board may require fund participants to make charges, levy taxes, or otherwise provide for sufficient money to pay acquired obligations.
(f)Revenue bonds issued under this subchapter must be authorized by resolution of the board and must have the form and characteristics and bear the designations as the resolution provides.
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Legislative history
Added by Acts 2013, 83rd Leg., R.S., Ch. 207 (H.B. 4), Sec. 2.02, eff. November 5, 2013.