Texas Water Code

§ 55.368 — LOANS FOR MAINTENANCE AND OPERATING EXPENSES

WA § 55.368Title 4. GENERAL LAW DISTRICTS · Ch. 55. WATER IMPROVEMENT DISTRICTS · Art. H. WATER ASSESSMENTS

Statute text

The board may borrow money to pay maintenance and operating expenses at an interest rate of not more than 10 percent a year and may pledge as security any of its notes or contracts with water users or accounts against them.

Legislative history

Acts 1971, 62nd Leg., p. 458, ch. 58, Sec. 1, eff. Aug. 30, 1971.