Texas § SD.1057.153 - AUTHORITY TO BORROW MONEY

Full text of Texas The Texas Constitution § SD.1057.153 — AUTHORITY TO BORROW MONEY, with citation guidance and answers to common questions.

§ SD.1057.153. AUTHORITY TO BORROW MONEY

AUTHORITY TO BORROW MONEY; SECURITY. (a) The board may borrow money at a rate the board determines is reasonable. (b) To secure a loan, the board may pledge: (1) district revenue that is not pledged to pay the district's bonded indebtedness; (2) tax revenue to be collected by the district in the next 12-month period that is not pledged to pay the principal of or interest on district bonds; (3) district bonds that have been authorized but not sold; and (4) any other unencumbered district assets. (c) The board may use the proceeds of a loan made under this section only for the district's operational and capital requirements. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166 ), Sec. 1.02, eff. April 1, 2009. SUBCHAPTER E. BONDS

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Frequently Asked Questions About Texas § SD.1057.153

What does The Texas Constitution § SD.1057.153 cover?

Section SD.1057.153 ("AUTHORITY TO BORROW MONEY") 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.1057.153?

A common citation format is "The Texas Constitution § SD.1057.153" (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.1057.153 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.