Texas § SD.1063.209 - TAX ANTICIPATION NOTES
Full text of Texas The Texas Constitution § SD.1063.209 — TAX ANTICIPATION NOTES, with citation guidance and answers to common questions.
§ SD.1063.209. TAX ANTICIPATION NOTES
TAX ANTICIPATION NOTES. (a) The board may: (1) declare an emergency because money is not available to: (A) pay the principal of and interest on any district bonds payable wholly or partly from taxes; or (B) meet any other needs of the district; and (2) issue negotiable tax anticipation notes to borrow the money the district needs. (b) Tax anticipation notes may be issued for any purpose for which the district may impose taxes. (c) Tax anticipation notes may bear interest at any rate or rates authorized by law. (d) Tax anticipation notes must mature not later than one year after the date of issuance. (e) Tax anticipation notes must be secured by the proceeds of taxes to be imposed by the district in the succeeding 12-month period. (f) The board may covenant with the note purchasers that the board will impose a sufficient tax in the following fiscal year to pay the principal of and interest on the notes and pay the costs of collecting the taxes. Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619 ), Sec. 1.01, eff. April 1, 2011.
Frequently Asked Questions About Texas § SD.1063.209
What does The Texas Constitution § SD.1063.209 cover?
Section SD.1063.209 ("TAX ANTICIPATION NOTES") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § SD.1063.209?
A common citation format is "The Texas Constitution § SD.1063.209" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § SD.1063.209 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.