Tex. Government Code § 1431.006
LIMITATION ON NOTES TO PAY EXPENSES
Texas · Texas Government Code · Status: effective
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- Citation
- Tex. Government Code § 1431.006, LIMITATION ON NOTES TO PAY EXPENSES, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/660552
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Full text
(a) Anticipation notes issued for the purposes described by Section 1431.004(a)(2) may not, in the fiscal year in which the attorney general approves the notes:
(1) for a municipality, exceed 75 percent of the revenue or taxes anticipated to be collected in that year;
(2) for a county or an eligible countywide district, exceed 50 percent of the revenue or taxes anticipated to be collected in that year; or
(3) for an eligible school district, exceed 75 percent of the income of the district for the fiscal year preceding that year.
(b) This section does not apply to an anticipation note or other obligation issued under Section 1431.015.