Texas § AG.60.103 - BONDS
Full text of Texas The Texas Constitution § AG.60.103 — BONDS, with citation guidance and answers to common questions.
§ AG.60.103. BONDS
BONDS. (a) The district may issue any type of bond, including an anticipation note or refunding bond, for any district purpose. A bond may be issued under Chapter 1371 , Government Code. (b) When authorizing the issuance of a bond, the district may also authorize the later issuance of a parity or subordinate lien bond. (c) A district bond must: (1) mature not later than 40 years after its date of issuance; and (2) state on its face that the bond is not an obligation of the state. (d) A district bond may be payable from or secured by: (1) any source of money, including district revenue, loans, or assessments; or (2) a lien, pledge, mortgage, or other security interest on district revenue or property. (e) The district may use bond proceeds for any purpose, including to pay: (1) into a reserve fund for debt service; (2) for the acquisition, design, construction, repair, maintenance, or replacement of property, including buildings and equipment; (3) administrative and operating expenses; (4) all expenses incurred or that will be incurred in the issuance, sale, and delivery of the bonds; (5) the principal of and interest on bonds; or (6) for the operation of an agricultural enterprise. (f) The district may contract with a bondholder to impose an assessment to pay for the operation of an agricultural enterprise. Added by Acts 2001, 77th Leg., ch. 1393, Sec. 1, eff. June 16, 2001.
Frequently Asked Questions About Texas § AG.60.103
What does The Texas Constitution § AG.60.103 cover?
Section AG.60.103 ("BONDS") 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 § AG.60.103?
A common citation format is "The Texas Constitution § AG.60.103" (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 § AG.60.103 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.