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Tex. Special District Local Laws Code § 1046.161

AUTHORITY TO BORROW MONEY; SECURITY

Texas · Texas Special District Local Laws Code · Status: effective

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Tex. Special District Local Laws Code § 1046.161, AUTHORITY TO BORROW MONEY; SECURITY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/587474
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(a) The district may incur a debt or borrow money on the credit of the district or secured by any source of revenue, including district taxes to be imposed in the next 12-month period, that is not pledged to pay the principal of or interest on district bonds. (b) The district may incur a debt or borrow money in any amount at a rate not to exceed the maximum annual percentage rate allowed by law for district obligations at the time the loan is made and on other terms the district considers advisable.