Texas § HS.362.035 - PLEDGE OF REVENUE AND OTHER AMOUNTS AS SECURITY
Full text of Texas The Texas Constitution § HS.362.035 — PLEDGE OF REVENUE AND OTHER AMOUNTS AS SECURITY, with citation guidance and answers to common questions.
§ HS.362.035. PLEDGE OF REVENUE AND OTHER AMOUNTS AS SECURITY
PLEDGE OF REVENUE AND OTHER AMOUNTS AS SECURITY. (a) Bonds are payable solely from and shall be secured by a pledge of: (1) revenues of the issuer derived from the lease or sale of a system; (2) amounts attributable to bond proceeds; or (3) amounts obtained through the exercise of a remedy provided by the governing body's resolution or a security agreement securing the bonds in the manner specified in the resolution or security agreement. (b) The governing body shall fix and periodically revise payments under a lease or contract for sale of a system so that the payments and other pledged revenue will be sufficient to pay the bonds and interest on the bonds as they mature and become due and to maintain reserve or other funds as provided by the resolution or security agreement. (c) The governing body may direct the investment of money in the funds created by the resolution or security agreement, and may delegate this authority to its authorized agent. Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § HS.362.035
What does The Texas Constitution § HS.362.035 cover?
Section HS.362.035 ("PLEDGE OF REVENUE AND OTHER AMOUNTS AS SECURITY") 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 § HS.362.035?
A common citation format is "The Texas Constitution § HS.362.035" (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 § HS.362.035 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.