Texas § GV.1373.006 - SECURITY FOR OBLIGATION
Full text of Texas The Texas Constitution § GV.1373.006 — SECURITY FOR OBLIGATION, with citation guidance and answers to common questions.
§ GV.1373.006. SECURITY FOR OBLIGATION
SECURITY FOR OBLIGATION. (a) An obligation may be secured by: (1) the proceeds from the sale of other obligations or indebtedness of the issuer, including proceeds from the sale of revenue bonds payable from the revenue to be received from an eligible project or a specified user of an eligible project; (2) subject to Subsection (d), any revenue that the issuer is authorized by the constitution, a statute, or the charter of a home-rule municipality to pledge or pay any kind of general or special indebtedness by or from those revenues; (3) water supply contracts or water treatment contracts or other similar contracts or the revenue received from those contracts; or (4) any combination of the sources described by this subsection. (b) The governing body of an issuer may secure an obligation and pay the cost of a contract or other agreement executed and delivered in connection with the financing of an eligible project with a pledge of the sources permitted by this chapter. (c) Notwithstanding any other law, if an issuer secures an obligation with contracts or the revenue from those contracts, the term of the contracts may not be less than the final maturity or term of such obligations pursuant to Section 1373.008 . (d) An obligation may not be secured wholly or partly by a pledge of ad valorem taxes. Added by Acts 2025, 89th Leg., R.S., Ch. 494 (S.B. 1261 ), Sec. 1, eff. September 1, 2025.
Frequently Asked Questions About Texas § GV.1373.006
What does The Texas Constitution § GV.1373.006 cover?
Section GV.1373.006 ("SECURITY FOR OBLIGATION") 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 § GV.1373.006?
A common citation format is "The Texas Constitution § GV.1373.006" (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 § GV.1373.006 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.