Texas Water Code

§ 54.811 — PLEDGE OF FAITH AND CREDIT

WA § 54.811Title 4. GENERAL LAW DISTRICTS · Ch. 54. MUNICIPAL UTILITY DISTRICTS · Art. J. SERVICES FOR CERTAIN DEFINED AREAS AND DESIGNATED PROPERTY

Statute text

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If at an election, the voters approve the issuance of bonds and the levy of a tax that applies only to a designated area, the district may issue bonds that pledge only the faith and credit based on the property values in the defined area and may not pledge the full faith and credit of the district.

Legislative history

Added by Acts 1987, 70th Leg., ch. 600, Sec. 1, eff. Aug. 31, 1987.