Texas § SD.7805.155 - BOND ANTICIPATION NOTES
Full text of Texas The Texas Constitution § SD.7805.155 — BOND ANTICIPATION NOTES, with citation guidance and answers to common questions.
§ SD.7805.155. BOND ANTICIPATION NOTES
BOND ANTICIPATION NOTES. (a) In addition to all other methods of acquiring funds for district purposes, the district may issue bond anticipation notes for any purpose for which district bonds have been voted or may be issued to refund outstanding bond anticipation notes and the interest on the notes being refunded. (b) The notes may bear interest at any rate not to exceed the maximum interest rate applicable to the district's authorized bonds. (c) The notes shall mature within one year of the date on which they are issued. (d) The maximum amount of the notes outstanding at any one time may not exceed $500,000 without the prior consent of the City of Irving, Texas. (e) The district shall pay the notes only from the proceeds of the sale of bonds by the district. Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026 ), Sec. 1.02, eff. April 1, 2015.
Frequently Asked Questions About Texas § SD.7805.155
What does The Texas Constitution § SD.7805.155 cover?
Section SD.7805.155 ("BOND 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.7805.155?
A common citation format is "The Texas Constitution § SD.7805.155" (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.7805.155 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.