Sec. 8364.151. AUTHORITY TO ISSUE BONDS AND OTHER OBLIGATIONS. (a) For any authorized authority purpose, the authority may issue bonds or other obligations payable wholly or partly from revenue of the authority's water system, sanitary sewer system, or drainage system, including revenue from contracts with member entities or customers, or any combination of those sources of revenue.
(b) To provide revenue under Subsection (a), a member entity may make payments under a contract with the authority from any of the member entity's sources of revenue, including ad valorem taxes, impact fees, grants, sales and use taxes, and any other source.
Added by Acts 2011, 82nd Leg., R.S., Ch. 525 (H.B. 2360), Sec. 1, eff. June 17, 2011.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 12 (H.B. 701), Sec. 5, eff. May 10, 2013.
Section: Previous 8364.002 8364.003 8364.004 8364.005 8364.006 8364.051 8364.052 8364.071 8364.072 8364.073 8364.101 8364.102 8364.103 8364.151 8364.152 NextLast modified: September 28, 2016