Tex. Special District Local Laws Code § 8506.203
OBLIGATION PAYABLE FROM REVENUE
Texas · Texas Special District Local Laws Code · Status: effective
Cite this
- Citation
- Tex. Special District Local Laws Code § 8506.203, OBLIGATION PAYABLE FROM REVENUE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/618679
- Permanent ID
ys:prov:618679@1- SHA-256
8eb559478a2cf15b020d8a17ac010da9a361832ec436506833ecf43bb4aa791b
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
A debt, liability, or obligation of the authority for the payment of money, however entered into or incurred and whether arising from an express or implied contract or otherwise, is payable solely:
(1) out of the revenue received by the authority with respect to its properties, subject to any prior lien on the revenue conferred by any resolution previously adopted as provided by this chapter authorizing the issuance of bonds; or
(2) if the board so determines, out of the proceeds of sale by the authority of bonds payable solely from revenue described by Subdivision (1).